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Tds interest calculation

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2015 Dear all,

Vendor has crossed limit of 32461 u/s 194J
invoice date-18-8-2015
Payment date-23-9-2015
we received 2 nd invoice of rs.7200 dtd 18-9-2015 and i will deduct tds from second invoice of rs.3966 (include above tds)and deposite on 6th oct 2015.

Dear all pls suggest me how to calculate tds interest on that.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 October 2015 No interest payable if you don't create any liability in the books for the invoice of August in the month of August.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2015 Seetharaman Sir,

If we book this invoice on invoice date basis then it would be a our liability?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 October 2015 Yes you are right.........
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2015 Sir,

I will book this on invoice date basis,
then how much interest should we pay.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
05 October 2015 3% interest payable for 3 months(Aug,Sep and Oct).

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