Short Deduction of TDS

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If a person has short deducted the TDS, but has paid the TDS that was short deducted but again the interest was not applied properly, which is required the calculate @ 1% p.m. or part thereof for the period of delay. How shall we treat the short payment of Interest in this case.
Replies (1)

Hi Shiv,

Since the short deducted TDS has already been paid.  Now the problem is only improper calculation of interest,  which is not a thing to worry about. 

You can pay remaining interest at any time.  Because the interest calculation is from the date of deduction to the date of actual payment of TDS, which is already paid.  Try to include that in next TDS payment.

Even if the TDS wing gives notice for such short payment of interest, they can only collect the remaining portion as the main TDS amount has already been paid.

hope this helps u

Regards,

guru

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