Tds payment debited to account on 01st may

anony (MANAGER) (145 Points)

01 May 2012  

DEAR SIRS,

 

WE HAD MADE THE PAYMENT OF TDS RELATING TO FY 2011-12 IN THE LATE EVENING YESTERDAY 30TH APRIL'2012, BUT THE SAME HAS BEEN DEBITED TO OUR ACCOUNT IN TODAY'S DATE 01.05.2012, CHALLANS ARE DATED 01.05.2012.

 

NOW I AM AFRAID THAT WE'LL HAVE TO PAY INTEREST ON DELAYED PAYMENT OF TDS @ 1.5 % P.M. OR PART THEREOF.

MY QUESTION IS :

(A) WHETHER I SHOULD MAKE INTEREST PAYMENT @ 1.5 % FOR 1 MONTH ON TOTAL TDS AMOUNT DEPOSITED?

                     OR

(B) WILL I HAVE TO WORK OUT INTEREST ON DELAYED PAYMENT OF TDS FOR EVERY TRANSACTION SEPARATELY? I.E. COMPUTE INTEREST FROM THE DATE OF DEDUCTION TILL DATE OF PAYMENT OF TDS.

 

I THINK I WILL HAVE TO GO AHEAD WITH OPTION (B) & WILL HAVE TO DO THIS TIME CONSUMING TASK.

 

THIS ALL HAS HAPPEN BECAUSE OF OUR HON'BLE DIRECTOR WHO DELAYED  AUTHORISING THESE PAYMENTS.

KINDLY SUGGEST WHAT TO DO NOW

REGARDS,

LALIT DHABRIA