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tds/tcs

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(Querist)
26 May 2010 if i deduct tds/tcs on 20/04/2009 & i paid it on 8/05/2009, one day late as due date of 07/04/2009.
what interest should be charged as IT Section?
1 month interest or two months interest or
only 18day interest.
please guide.
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Jagdish Bhalia

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Jagdish Bhalia (Expert)
26 May 2010 Interest would be charged @ 12% for one month only
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 May 2010 It is delay of 1 day 20th april deduction can be paid up to 7th May and you paid 8th may you can pay 1 month interest as 1 %
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