Tds deducted on 31st march 2013 and paid on 16th May 2013(due date was 30th April 2013) , interest would be levied for 2 months or 3 months.
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Query on interest paid on late payment of tds
Replies (2)
Sir Interest Should be charged @ 1.5% For 3months. Late month Calculation as as under
March=1day=1month
April=1month
May=16days=1months
If you will charged interest 3%(e.g 2months interest), the Deptt Will raise a demand notice for short payment of interest.
Thx Jagdeep Singh.
Same has happened in this case.
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