Interest on short deduction of tds

This query is : Resolved  Report Abuse Subscribe
 

(Querist)


10 November 2012

Wishing you HAPPY DIWALI to all.........

If I have deducted the TDS @1% instead of deducting it @2%.I had made payment to deductee on 14-04-2011 and paid tax on 6-5-11 by challan. now at the end of October 2012. what interest will be assessed as short deduction of TDS??? please reply the rate & period for which the interest is applicable????????

regard
shyamsingh

Naveen Joshi (Expert)


10 November 2012

Interest shall be payable @1% per month or part of the month, from the date of payment/ credit (whichever is earlier) till the date of deposit



You need to be the querist or approved CAclub expert to take part in this query .


Click here to login now


Similar Resolved Queries :








close x