How to calculate interest on tds

CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)

22 September 2012  

I am Seeing Continuosly That in "Expert/Forum" Section, Many Queries are related to Interest on TDS calculation.

Just People Have to See These Below 3-4 Lines, After That any One Can Calculate Interest on TDS.

 

Interest from 01.07.2010


  • For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof) 
  • For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)


Regards,

CA Ayush Agrawal