interest on delay in payment to party liable to tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2012
I have made a payment beyond the credit limit to the party against some purchase & i have to pay the Interest for the period of delay now should i have to deduct tds on the same or not.if yes then please provide relevant % of deduction & sources for your opinion.
Thanks.
Thanks.
04 March 2012
TDS U/s 194A @ 10% has to be deducted as the late payment charges is considered as Interest.
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