charging of interest under section 201(1A)
This query is : Resolved
16 March 2008
The AO charged interest @12% p.a. for delay in deposit of TDS by one day to three days for full one month. But as per rule 119A (a) where interest is to be charged @ per annum basis then part of month is to be ignored. If delay in deposit of TDS is less than one month whether the AO is right in charging the interest for full month.If AO is correct then What is the remedy?
Kindly reply urgently.
Kindly reply urgently.
17 March 2008
the interest rate is 12% p a that is 1% p
m only in service tax interest is calculated in monthly basis the ao is right
m only in service tax interest is calculated in monthly basis the ao is right
18 March 2008
If the interest rate is calculated on p.a. basis the rule 119A provides for the method of calculation and as per that part of the month is to be ignored then how AO is right in charging interest for full one month for the delay of 1/3 days. Kindly clarrify.
10 April 2008
Is there any expert who can provide reply to this unresolved problem. it is important please.
30 November 2010
Interest on TDS is charged @1%(upto31.7.10) and @1.5% after 31.7.10, for a month or part of the month
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ADVANCE PAYMENT OF ADVOCATE
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Eway bill not cancelled within 24 hous what can be due
- Filling ITR - U
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
