Interest calculation for tds late deposit

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Student
85 Points Joined July 2013

Hi

Please help me how calculate interest for TDS late depost.

 

We deducted TDS on 15th JAN 13 but still we have not deposited we are planning to depost on 29th JUL 13, so I wants to know what is the current interest rate and how to calculate.

Plase guide me soo as it is already delayed.

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On 28 July 2013 at 16:31 Report
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C.A.
1030 Points Joined January 2009

Month of Deduction - Jan 13

Month of Payment July 13

No of Months from Date of Deduction to Date of Payment - 7 Months

Rate of Intertest 1.5%

Hence if 100 is tds then interest is 100 * 1.5 /100 * 7

 

1 Reply
On 28 July 2013 at 17:03
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CA
987 Points Joined June 2007
Interest on late deposit of TDs 1.5% per month or part thereof. Interest on late deduction of TDs 1% per month or part thereof.
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On 28 July 2013 at 17:04


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