I RECEIVED A BILL OF AMOUNT 123596/- DATED: 03.06.2016, TDS RATE APPLICABLE ON THE AMOUNT IS 10%.
IF I MAKE PAYMENT OF TDS AMOUNT 12360 ON DATED: 13/08/2016, WHAT WILL BE THE INTEREST AMOUNT OF THE TDS.
Rs.556.2 interest. As per section 201(1A) deductor shall pay interest @ 1.5% for every month or part of month on the amount of such tax from the date such tax was deducted to the date such tax actually paid. Hence, interest will be levied @ 4.5%(3 months or part thereof) assuming tds is deducted on 03.06.2016.
if you file return in q1 interest will come if you show this challan in q2 interest will not come interest shall be calcuclated from date of deduction to actual date of payment i