09 June 2013
i was deduct tds on 2nd April & deposit it to 6th june . the 1.5% interest is levied but how many month the interest of late payment is levied. If i deposit above tds on 10th june then how many number of month the tds of late deposit is levied
09 June 2013
Interest is to be caluculated for the period from the date of deduction to the date of deposit of tds..
in your case interest for the period is =(2nd april to 6th june) =2months+4days part of months also to be considered as full month for the purpose of interest caluculation
Deposited:6th june
So interest to be caluculated for the 3 months @ 1.5% permonth.
CAclubindia
