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INTEREST ON LATE DEPOSIT OF TDS

Kumar Gaurav (Going...to be C.A soon...) (1624 Points)

09 July 2007

HI,

WHAT IS THE INTEREST RATE FOR LATE DEPOSITING OF TDS AND WHETHER IT IS CALCULATED ON DAYS BASIS OR ON MONTH BASIS.

THANKS

GAURAV

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8 Replies

tushar jain (Service) (107 Points)
Replied 09 July 2007

Interest is charged @ 1% pm for late deposit of TDS. interest is charged on monthly basis and even if it is just one day, it is considered as full month

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(Guest)

thanks mr. tushar jain

(Guest)

what is the interest rate on late deposit of tds

Amit Paul (article) (47 Points)
Replied 16 May 2008

Interest on late deposit of TDS is 1% pm if it is submitted after 7th of the next month in which TDS is deducted e.g. for December u will have to deposit before 7th of January to Avoid Interest.

(Guest)

If 7th is Sunday than what is the last date of TDS deposit

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Nupur Sharma (CA) (426 Points)
Replied 20 January 2009

what if i deposit TDS after the 7th of following month without the interest amount? Can i deposit interest separately? i mean can i file a revise return?