Interest on late deposit of tds challan 281 (not 26q terun)

17 April 2021

what is the interest rate in case where we deducted tds of contractors.... but being late deposit tds challan 281.....

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7 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 18 April 2021

Interest is calculated at the rate of 1.5% per month from the date on which TDS was deducted to the actual date of deposit

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JASKARAN SINGH (435 Points)
Replied 18 April 2021

Sir u have dedicated tds for the January, February and March, ...and now I wants to deposit in April ....how can I calculated interest

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CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 18 April 2021

1.5% per month should be deducted as interest per month

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 18 April 2021

Interest @ 1.5% per month or part of the month, from the date of deduction till the date of payment is applicable in this case.

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CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 18 April 2021

Yes interest wil be calculated in this way

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Ankit Neema (2742 Points)
Replied 18 April 2021

Interest @ 1.5%is calculated per month or part of the month

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JASKARAN SINGH (435 Points)
Replied 18 April 2021

Thnxxxx to all..... for urs valuable answer

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