13 April 2012
Dear expert, In case of govt. deductor, a payment made to contractor of Rs. 80000/- on 15-03-2012 and tds @ 2% is 1600/-. However the tds was deposited at bank on 18-03-2012 by cheque. Whether the interest liability will attract on part of deductor and what would be interest rate. Please advise.