I HAVE MADE ADVANCE PAYMNET TO THE CONTRACTOR IN THE MONTH OF APRIL 2022 BUT NOT DEPOSITED TDS AMOUNT @ 2% ON IT. NOW I AM DEPOSITING TDS AMOUNT IN THE MONTH OF JUNE 2022 BEFORE 7TH. WHAT WILL BE PENALTY/INTEREST I HAVE TO PAY ON IT? KINDLY SUGGEST WITH THE EXAMPLE FOR THE SAME.
4 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 04 June 2022
You have to pay interest @ 1.5% for 3 months.
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 04 June 2022
It is per month ...............
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