Interest on delayed payment of tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2015 Dear Sir/Mam ,
X ltd. is paying to one of its director salary of Rs. 50000 p.m.But problem is from starting they haven't deducted TDS.
The company came into existence on 1st Aug. 2014.
Till now how much will be the Interest on delayed payment of TDS and the reason.
Kindly tell me how to solve this problem.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

26 June 2015 Interest on Delay payment of TDS is 1.50% per month or part of the month (if tds deducted and not paid) & 1 % if the TDS not deducted. so your case 1% per month will apply as delayed payment interest