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Interest calculation on tds

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(Querist)
22 January 2015 Date of deduction - 24-07-2014
Date Due Date for TDS Deposit - 07-08-2014
Date of Deposit - 12-08-2014
What is the period of delay for the calculation of Interest on TDS?? Could anyone please tell me about this provision??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
22 January 2015 Interest on late deposit of TDS is to be paid @ 1.5% per month or part thereof.

In the given case Interest on late deposit of TDS is to be paid for two months i.e., 3% of the TDS amount.
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Rupesh Jain

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Rupesh Jain (Expert)
22 January 2015 it will be taken for the date of deduction to data of deposit its will be for 2 month @ 3%.



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shobha s

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shobha s (Querist)
23 January 2015 Could u please tell me how 2 months delay is calculated..??
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shobha s

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shobha s (Querist)
23 January 2015 Could u please tell me how 2 months delay is calculated..??
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
23 January 2015 One month for July and one month for August. Interest is for one month or part thereof so two months interest to be paid.

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