2 months interest for 1 day delay in pmt of tds ???
This query is : Resolved
CA Abhishek Singh
(Querist)
02 August 2014
Hello everyone,
i filed TDS return of my client. Tax was deducted on 30/4/14 and paid on 30/05/14 after due date. i paid 1 month interest.
now i received intimation from TDS cpc asking for payment of 1 months extra interest.
I called TDS CPC and they are saying this is as per law.
If this is as per law then for 1 day delay 2 months interest has to be paid which is illogical and clearing not the intention of the lawmaker.
My question :
Should i pay the additional 1 one month interest or there is any other option available ?
i filed TDS return of my client. Tax was deducted on 30/4/14 and paid on 30/05/14 after due date. i paid 1 month interest.
now i received intimation from TDS cpc asking for payment of 1 months extra interest.
I called TDS CPC and they are saying this is as per law.
If this is as per law then for 1 day delay 2 months interest has to be paid which is illogical and clearing not the intention of the lawmaker.
My question :
Should i pay the additional 1 one month interest or there is any other option available ?
02 August 2014
cos they take for april and may 2014 as 2 months while cal int.
CA Abhishek Singh
(Querist)
02 August 2014
I know but what is the normal practice. should i pay the interest on not ?
02 August 2014
yes else the int will keep mounting.so pay immedieatly they are ri8
Nikhil Kaushik
(Expert)
05 August 2014
this is the normal practice and normal rule as per income-tax act.
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