P A RUPESH RAMNATH (CA IN PRACTICE) (223 Points)
18 November 2010
We have deducted Rs.60000 on 31.03.2010 for rental payment and paid into govt account on 25.09.2010.
I want to know the following
a. Due date of payment for deduction made on 31.03.2010
b. No of months of default
c. Rate of interest
CMA. CS. Sanjay Gupta
("PROUD TO BE AN INDIAN")
(114225 Points)
Replied 18 November 2010
(a) Due date:
If deducted on payment 07/04/10
If deducted on Prov 31/05/10
(b) No of Months of Default--
April to Sept 6 months
(c) Interest @ 1% till 30.06.10
interest @ 1.5% from 01.07.10
Total Interest---(7.5% on Rs. 60000/-)
April To June---(1*3)3%
July To sept (1.5*3=4.5%)
A TRINADHA RAO
(Accountant & CA IPCC STUDENT)
(155 Points)
Replied 25 November 2010
Interest
1.4.10-30.06.10-1800
01.07.10 to 30.09.10-2700
Total-4500
CAclubindia
