banner_ad

charging of interest under section 201(1A)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

CA Hemant T Dewani

Profile Image

CA Hemant T Dewani (Expert)
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
Profile Image

dinesh juneja

Profile Image

dinesh juneja (Querist)
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.
Profile Image

dinesh juneja

Profile Image

dinesh juneja (Querist)
10 April 2008 Is there any expert who can provide reply to this unresolved problem. it is important please.
Profile Image

AMAN Gupta

Profile Image

AMAN Gupta (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details