If the commission incurred is 20000 in the month of 1/6/2012 and they actually booked the entry in 2/8/2012.....my question is will the interest to be charged for late deducting tds as the expenses belongs to june month???
3 Replies
Rikin
(Learner)
(140 Points)
Replied 25 December 2012
Late deduction of TDS 1% per month or "part thereof". (01/07/2010 onwards)
TDS should have been deducted in june...so interest of 1.June 2. July 3. August (Part thereof)
=TDS Amount*1%*3 months.
CMA RAVI
(ASSISTANT MANGER - FINANCE)
(478 Points)
Replied 25 December 2012
Delayed interest charges are applicable
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