friends,
for 11-12, 10-11 previous years what is the interest rate for late deposite of tds amount, thanks in advance
tds
sanju (Accountant) (348 Points)
14 July 2011
1 Replies
(Guest)
Interest up to 30.06.2010
1. For late deduction of Tax deduction at source-(rate 1 % per month or part thereof)
2 For late deposit of TDS after deduction (rate 1 % per month or part thereof)
Interest from 01.07.2010
1 For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
2 For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)
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