24 June 2016
Dear All, One of my friends failed to deduct TDS for making installment payment to the builder. The payment given to the builder is on 27.04.2015 & 06.07.2015. Now he want to be pay Interest i.e. 1.5% p.m. for the late of payment of TDS.
My query is - Is it any penalty for no deduct the TDS or he his only pay the interest for late payment.
CAclubindia
