Tds dectucted but deposited after due date

TDS on provision provided on 31ST march but same has been deposited after due date then interest will be calculated from which month?

from 31st march

INTEREST WILL BE APPLICABLE FROM 01.04.2012 AND WILL BE CALCUALTED ON MONTHLY AND PART OF MONTH WILL BE CONSIDERED AS COMPLETED MONTH

If the provision was for 31st March, then interest would be calculated from 31st March itself. Intt is calculated from the dae of deduction in case of late payment.

Regards

Prateek

I HAVE RECEIVED THE NOTICED FROM THE TDS COMMISIONER, HE ALWAYS COUNT THE DATE FROM 01.04 IN THE CASE OF TDS DEDUCTED 31.3 AND SAME DEPOSITED LATE WITHOUT INTEREST,

IF TDS HAS DEDUCTED ON 30.3 THEN MONTH OF MARCH ALSO TAKEN FOR THE CALCULATION OF INTEREST.

Neeraj Sir is right..

Interest is to be paid at 1.5 % for every month or part of a month on the amount of TDS from the date on which tax was deducted to the date on which tax is actually paid, and such interest shall be paid before furnishing the statement in accordance with the provisions of section 200(3).

So, here we have to consider the month march also for calculation of interest  on late payment of TDS.

Interest will be calculated from 31st March @ 1.5% p.m.  till the month it is paid.

Originally posted by : Prateek Agarwal
	If the provision was for 31st March, then interest would be calculated from 31st March itself. Intt is calculated from the dae of deduction in case of late payment. Regards Prateek

Totally agreed with Prateek ji

Neeraj sir is right. Interest on TDS is to be calculated from the date of deduction to date of payment. So from the date of deduction i.e 31st march interest is calculated . But the time for payment without interest is till 31st may in that case.