22 March 2011
when will interest on tds of salary arises can any body help me out in my case Ex : Salary 2,40,000 p.a TDS amounts to Rs. 8000 deducted in march month (i.e.,) deducted for the whole year at one shot at the end of the accounting year.
Whether interest applies if so which sec speaks plz somebody help me out in this asap
22 March 2011
Interest does not apply on TDS on Salary as long as TDS is done within the year and paid to the govt as per the time limit. This is because there is flexibility u/s. 192 to adjust amount of TDS on salary during the year.
CAclubindia
