Interest on tds

324 views 1 replies

DEAR ALL PLEASE GUIDE ME THE INTEREST RATE IF I HAVE NOT DEDUCTED THE TDS ON THE PREVIOUS MONTHS PAYMENT LIKE JUNE AND AUGUST , 2012 AMT IS 28000 AND 60000/-

Replies (1)

If TDS has not been deducted & paid

- Interest rate is 1% per month

- Period = Due date of deduction to Date of deduction

- Part of the month = complete month

If TDS has been deducted but not paid

- Interest rate is 1.5% per month

- Period = Date of deduction to Date of payment

- Part of the month = complete month

- TDS deducted but not paid is intentional default therefore high interest rate and period also start from due date of deduction.

 

In your case first condition is applicable 

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register