Tds late payment

naveen (Accountant) (6 Points)

29 July 2016

I have deposited tds 1 day late due to holiday . i got notice from traces for late payment. what is the remidy (Solution) for it

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3 Replies

sundeep (Tax Professional) (23 Points)
Replied 29 July 2016

Hi Naveen,

In the said case you are liable to pay the interest on the TDS liability for 1 day. The interest rate will be 1.5% p.m.

naveen (Accountant) (6 Points)
Replied 30 July 2016

Due Date is Holiday. I Paid Tds amount next Day.If Due date is Holiday Should i pay Interest on Tds ?

sundeep (Tax Professional) (23 Points)
Replied 01 August 2016

Yes, you have to pay online.

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