Tds on interest

This query is : Open

SHIVANG (Querist)
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13 November 2013 Dear Professionals,

I went through the conversations and articles for Interest for late depositing TDS amount.

Period of delay is calculated from date of deduction instead of Due date.

My query is,
If the period of delay is less then 1 month then also, interest of 2 months shall be charged?

For Example,
Deduction : 22-08-2013
Due date : 07-09-2013
Deposit date : 08-09-2013

In this case,
I am charged 2 months interest in justification report downloaded from TRACES.

Is it correct?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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13 November 2013 What ever you have written is correct. All are paying interest. No body is questioning the provision.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 November 2013 I am sorry Shivang,

The interest is calculated from the date it was deductible!!

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SHIVANG

SHIVANG (Querist)
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14 November 2013 Shri Nikhil Kaushik and Shri Paras Bafna

Thank you for reply. I do understand that interest is calculated from date of deduction.

How 1 month is calculate from date of deduction?

Is it 30 days from date of deduction or calendar month is considered?