19 August 2014
Sir, I have received notice under (Short Deduction, Interest on Short Deduction, Interest on late Payment, Late Filling) of previous years from 01.04.2009 to 31.12.2013 in different quarters. The amount mentioned in notice shall be paid to Income tax department without any question. I want to know these errors r from previous years, it has been a long time since amounts of different notices are still pending, I want to deposit all amounts reflected in notices after making correction in PAN if it has. Will there be any extra amount be charged by ITD as interest with the amount of specified notices bcoz it already delayed....
1:- Only Interest on short deduction will be charged till the date of deposition ? & other interest ie. Interest on late payment etc, Will it be deposited the same amount as mentioned in notice ?
2:- My boss received notice in April 2011 for Q3 FY 10-11 as short deduction a sum of Rs:- 10000/- but didn't respond, its too late, how much interest would I have to charge over above amount. 1 percent p/m & part of month commencing date on which TDS filled to the date on which interest on Short deduction is deposited isn't ?
19 August 2014
Date isn't mentioned on notice, which date should I use for calculation, I read justification report on which Order passed date is mentioned....is it valid date to calculate ?
20 August 2014
GM, I m confused a bit..Plz help... Original TDS returned was filled on 14Jan2013,for FY 2012-13 Quarter3_26Q. A demand notice is on short deduction Rs:- 6480, (Date of Processing of Last Accepted Statement) is mentioned on Justification report 08Aug2013, & date of payment to deductee is 08Nov2012 Rs:-36000. I want to know either I calculate interest on short deduction @1% from payment date to deductee which is 08Nov2012 to date of processing statement which is from justification report 08Aug2013, or it will be calculated from 08Nov2012 to Till date if I deposit today???????
20 August 2014
thx a lot sir....I recently had a glance over Income tax book of different section of interest where I found 1% is for TCS u/s 206C(7) but not mentioned the duration of payment...will the same procedure be applicable of interest payment as on short deduction ??
CAclubindia
