Tds

prahlad meena (ca final) (27 Points)

21 June 2012

Is there any TDS liability arise on brokrage/commission paid on sale of plot....what rate...if delayed in deduction/payment......what panalty.......

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4 Replies

Sonu Kumar (Account Manager) (665 Points)
Replied 21 June 2012

10% Tds on Commission and Brokerage

1% interest on late payment

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 21 June 2012

I agree with Sonuji, but the rate of late payment of TDS is 1.5% p.m. from the date of deduction.

In case of late deduction, it is 1% p.m.

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Sonu Kumar (Account Manager) (665 Points)
Replied 21 June 2012

Originally posted by : Prateek Agarwal
	I agree with Sonuji, but the rate of late payment of TDS is 1.5% p.m. from the date of deduction. In case of late deduction, it is 1% p.m.

I think payment Date is 7th in the Following Month so Interest Will be Applicable from that Date i e 8th

Prateek Agarwal (Sr. Executive - Finance & Accounts) (1732 Points)
Replied 21 June 2012

No sir, interest is calculated from the date of deduction, not from the due date.

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