Hi, I don't know how to pay the interest for late payment of TDS.I don't know how to mention it in the challan and cheque what i am going to send. One more thing we are making payment in manual format. Please help me in this issue. Thanks
Menu
Tds -interest payment
Replies (3)
Interest on late payment is 1.5% from the date of credit of payment if TDS is not paid on due date.
Also if you only have to pay interest then, there is a provision in the Form 281.
You can write down the amount there and prepare the challan. With regards to issue of cheque, you have to deposit cheque into the bank you normally deposit other Tax Related cheques. Just keep in mind just mention Interest amount in the "CHALLAN"
Only payment will not remove the default from TRACES.You need to file revise return with the details of late payment challan.
INTEREST PAID WITH IN ONE MONTH FROM INTIMATION GENERATE.file revise return .
Recent Threads
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
Related Threads
CAclubindia
