Calculation of interest on late payment of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 May 2013
Dear Sir,
Please advice how to calculate Late Payment Interest from Date of Deposit of Tax till Date of Processing(C) as per defaults received from tdscpc
Please advice how to calculate Late Payment Interest from Date of Deposit of Tax till Date of Processing(C) as per defaults received from tdscpc
Pradeep Agarwal
(Expert)
08 May 2013
There is no interest leviable on tds b/w date of deposit of tax and date of processing. Interest is levied on late payment of TDS @ 1.5% per month from the date of deduction of TDS till the date of actual payment. For the purpose of calculating interest, delay of even 1day in a month should be taken as complete month
24 June 2013
Yes I agree with the expert for payment of interest on delay on payment of TDS
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