Can anyone calculate the Interest on TDS for the month of March 2018?
TDS 192B Rs 353950/- Payment will be done today.
7 Replies
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 15 May 2018
Interest is Applicable for 2 Months i.e. April & May and not one month...
JAI BHOLA
(504 Points)
Replied 15 May 2018
technically it's for 3 months cause section 201A 'from the date of TDs deduction to actual payment ' therefore interest would be 15927
CA Ankit R Momaya
(Partner at Bhat Momaya & Associates)
(2319 Points)
Replied 15 May 2018
However since the Salary accrues on 31st March, Interest not applicable for March month. Hence only for 2 Months. There are various judgements of High Courts in this Regard too.
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 15 May 2018
To be in safer side we will pay interest for 3 months.
JAI BHOLA
(504 Points)
Replied 15 May 2018
ya pay for 3 months , cause getting due on 31st march satisfies the provision "part of " . And it's a debatable issue so you pay for 3 months to avoid other penalties...
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 15 May 2018
As per the query Interest will be calculate 3 months.
Simply wait and receive the notice from TRACES. It is noticed the Payable amount and Also in the dashboard... 😊😊😊😊
Simply wait and receive the notice from TRACES. It is noticed the Payable amount and Also in the dashboard... 😊😊😊😊
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