srikumar (audit staff) (1203 Points)
15 October 2013dear sir ,
how to calculate interest on TDS for late deposit & late deduction , in my asseesse has tds deduction date Rs.5000 is 2.8.13 ( due date is sep 7th 2013 ) but deposit date is sep 10th 2013 ,therefore interest months is one month , some body says its 2 & 3 month .. what is correct month & calculation ? pls give interest rate about tds? urgent sir
CA and CMA Ravinder Singh
(CA and CMA)
(853 Points)
Replied 16 October 2013
in the same cases, department had sent letters to assessees asking for 2 mnths interest instead of one month. so for safer side take 2 months.
CAclubindia
