I have received statement from online NSDL TDS Section, which indicates the TDS payment deducted party wise and the interest paid for late TDS deposit. Statement also indicates "Late Payment Interest from Date of Deposit of Tax till Date of Processing(C)" . I have been asked to deposit the interest on late TDS deposit after calculating interest from the date of deducting TDS to the current date (after subtracting the already deposited interest by me).
A footnote also mentiones: "It is advised that the deductors may finally compute the interest liability till the date of deposit of the concerned payment in this regard."
one of the TDS default statement is attached for clearity of query
How much interest on TDS deducted do I need to pay now? Thanks in advance.
CAclubindia
