TDS interest
sumit goyal (15 Points)
26 August 2019
what is the interest chargeable on TDS payment delay?
3 Replies
sagar
(ARTICLE)
(53 Points)
Replied 26 August 2019
1.5% Interest to be calculated from the date of deduction ( calculate including date of deduction month )
for e.g. date of deduction is 10/07/2019 and date of payment of tds is 10/08/2019 (i.e. late by 3 days)
then interest will be calculated for two month i.e. July and August 2019.
1000 x 1.5% Interest = Rs. 15 multiply by Two Months i.e. Rs. 30.
Jatin
(Accountant)
(3479 Points)
Replied 26 August 2019
if date of deduction is 31.07.2019 and date of deposit is 25.08.2019
what is the interest amount
what is the interest amount
sagar
(ARTICLE)
(53 Points)
Replied 26 August 2019
interest amount will be 30/-( for TDS amount of Rs. 1000/-) as per above calculation. for the month of July and August for two months.
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