Our accountant has credited Rs1500/- towards tds payable on July 2011 & paid only Rs. 1213 on 5th august 2011. Bal. amount of Rs. 287 /- paid on 5th dec 2011.
I want to revise the tds return of 2nd quarter. Will you pls. advise the penalty/interest amount?
15 January 2012
On the balance TDS, interest @ 1.5% need to be deposited from the Date of deduction of Tax to the date of actual deposit. Please note period is to be take from Date of deduction not from due date of deposit. Any part of the month to be treated as 1 month for this purpose. You will have to revise the TDS return for 2nd Qtr also.
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