Calculation of interest on late tds deposition
This query is : Resolved
26 May 2014
Dear Sir,
I calculated TDS on Directors Salaries in January - 2014 & deposited TDS by 03 feb 2014, No interest for above Payment, But When I calculated Final TDS on Director's salaries in March 2014 then I found I calculated Rs: 10000 less TDS on Director's salaries in Jan - 2014, it means I should have calculated more TDS RS:- 10000 in January - 2014. I wanna know the TDS amount Rs: 10000 which I calculated less in Jan - 2014 if the same is deposited in by 6 April - 2014 what would be the interest. Or If I conclude Rs 10000 TDS, with rest TDS amount which I calculated in March 2014 & deposit by 06 April - 2014 then what would the interest rate over it.
I calculated TDS on Directors Salaries in January - 2014 & deposited TDS by 03 feb 2014, No interest for above Payment, But When I calculated Final TDS on Director's salaries in March 2014 then I found I calculated Rs: 10000 less TDS on Director's salaries in Jan - 2014, it means I should have calculated more TDS RS:- 10000 in January - 2014. I wanna know the TDS amount Rs: 10000 which I calculated less in Jan - 2014 if the same is deposited in by 6 April - 2014 what would be the interest. Or If I conclude Rs 10000 TDS, with rest TDS amount which I calculated in March 2014 & deposit by 06 April - 2014 then what would the interest rate over it.
Guest
Guest
(Expert)
26 May 2014
First thing... For TDS of march last date is 31st March.
Now if u had deducted less tds you can deduct tds in the month of march....
I dont think any interest will be payable on that part
Now if u had deducted less tds you can deduct tds in the month of march....
I dont think any interest will be payable on that part
26 May 2014
TDs on salary you can increase the amount of tds in next month if you make mistake in previous month . but in march you have to deducted all tds and deposit with govt.
now you are not required to deposit the intt on jan-14. tds amount .
now you are not required to deposit the intt on jan-14. tds amount .
26 May 2014
I really appreciated to all of u for getting my confusion removed. Thanks a lot.
Guest
Guest
(Expert)
26 May 2014
no need of thanks dear specially to me.... m alwz here to help students
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