Tds on courier

First of all, u will have to check on which date payment to First Flight Courier service got exceeded from Rs. 75000/-. 

Say, Till 24/07/2012, you had paid Rs. 70000 to courier company and the next payment was Rs. 15000 on 15/11/2012. So liability to deduct TDS on 85000 (including previous payment) arose on 15/11/2012.

Now,  Pass the TDS deduction entry on 31.03.2013 and Pay the entire TDS along with interest on 5th June, 2013 (assuming).

TDS to be deducted on Rs. 85000 = 1700 (85000*.02)

Interest will be calculated in two parts:

Part - 1: at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted (15/11/2012 to  31/03/2013) = 1700*.01*5 = Rs.85

Part - 2: -  at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid (31/03/2013 - 05/06/2013) = 1700*.015*4 = 102

Total Interest - 85+102 = 187

This is only one part of calculation. Now you will have to do the calculation in the manner described above for all the subsequents payments individually, as the "date when TDS was required to be deducted" varied with every payment.

I can simplify it liitle bit more for you.

Part 2 interest calculation will be (156000*.02)*.015*4= Rs 187.20, if you will show TDS deduction in the month of march and payment of TDS in the month of June.

And now you will have to calculate th PART 1 interest according to your payment schedule

Please download the attachment to see the solution.