26qb interest and late fee
This query is : Resolved
27 December 2017
My client has purchase a house of rs.1,41,97,286.00 on 31.10.2015. he did not deposit tds i.e 26qb. he want to deposit tds and interest with late fee before 31.12.2017.
I have suggested that tds - 141973.00 interest 55370.00 LATE FEE 141973.00. instead of 158200.00
am i right or any correction required
I have suggested that tds - 141973.00 interest 55370.00 LATE FEE 141973.00. instead of 158200.00
am i right or any correction required
27 December 2017
If you show Deduction date as 31/10/2017 than you have to pay interest @1.5% for 3 months including Oct-2017 interest will be Rs.6389/- if you pay on or before 31/12/2017
06 July 2024
1. **TDS Amount:** ₹1,41,973.00
- This is 1% of the property value (₹1,41,97,286.00).
2. **Interest Calculation:**
- Interest is applicable from the date on which TDS should have been deducted to the date of actual payment.
- Interest rate for TDS defaults is usually 1% per month or part of the month.
3. **Late Fee Calculation:**
- Late fee under Section 234E of the Income Tax Act is ₹200 per day for every day during which the failure continues. However, the total amount of late fee cannot exceed the TDS amount.
- This is 1% of the property value (₹1,41,97,286.00).
2. **Interest Calculation:**
- Interest is applicable from the date on which TDS should have been deducted to the date of actual payment.
- Interest rate for TDS defaults is usually 1% per month or part of the month.
3. **Late Fee Calculation:**
- Late fee under Section 234E of the Income Tax Act is ₹200 per day for every day during which the failure continues. However, the total amount of late fee cannot exceed the TDS amount.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
