Tds calculation with interest

Sulabha (Accounts Assistant) (67 Points)

05 August 2016

can anyone send me the excel sheet for TDS calculation with interest from 1/4/16 to 31/7/16

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RUDRA (CA FINAL) (149 Points)
Replied 06 August 2016

if tds not deducted interest rate will be 1% for every month

if tds deducted but not paid interest will be 1.5% for each month on tds amount

Sulabha (Accounts Assistant) (67 Points)
Replied 06 August 2016

Yes sir we have not deducted the TDS but we have to paid the TDS on the payment & in further payment to party can we deduct the same

RUDRA (CA FINAL) (149 Points)
Replied 06 August 2016

yes you can deduct. if you not really deducted tds you need to pay 1% interest only

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