Prasad Royals (86 Points)
31 March 2019
ca.nsrawt
(Legal Consultancy)
(256 Points)
Replied 01 April 2019
Dear Prasad,
In the m/o Apr'19, you have to pay interest @ 4.5% on tax due.amount.
Regards,
Naveen Singh
9716822331
CA Charmie Jhaveri
(Associate)
(163 Points)
Replied 01 April 2019
Late deduction of TDS attracts interest @ 1% per month. This is delay in deduction of only 1 month so 1% of TDS amount shall be interest levied.
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 03 April 2019
Interest on Late deduction is 1% p.m. or part thereof.
Here, even though the delay is one day, interest is to be calculated for one month. Therefore, Interest to be paid is 40,000 x 1% x 1 = Rs. 400
Sarath Chandra
(CA Final Student)
(566 Points)
Replied 03 April 2019
Interest on Late deduction is 1% p.m. or part thereof.
Here, even though the delay is one day, interest is to be calculated for one month. Therefore, Interest to be paid is 4,000 x 1% x 1 = Rs. 40 (TDS = 10% of Rs. 40,000)
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