Interet calculation on late payment of tds ?

Priyanka Mohta (CA ) (28 Points)

24 February 2012  

Suppose I have deducted TDS of Rs 10000 on 14/4/2010 and I have paid the same on 12/7/2010. Now in this case how interest is to be calculated on late payment of TDS . Also how many months of delay will be there upto 30/6/2010 and after 30/6/2010. Actually the issue is if we count days from 12/7/2010 to 14/4/2010 then total days come to 89 days but if we calculate the days from 30/6/2010 to 14/4/2010 then it comes to 77 days and thus now i am confused that interest will be calculated at 1% for 3 months or at 1% for 2 months and 1.5% for one month.........Please also do give refernce of a circular/provision if any