Compounding interest on interest on late payment of tds

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Harsh (Querist)
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05 October 2011 Dear sir,

Pl guide me whether interest @ 1.5% on interest on late payment of TDS apply. e.g. F.Y.2010-11 Q1 interest of Rs.50 was not paid and on 05.10.2011 such is identified. So only Rs.50 to be paid or any interest on it?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 October 2011 There is no concept of interest on interest in Income tax. just you calculate pay the interest for delay only

Harsh

Harsh (Querist)
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05 October 2011 OK thanks.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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21 February 2013 Though There is No Concept of Compounding (Interest on Interest), But still AO Issue Notice With Interest on Interest, and Since Generally Its Small Amt, Every One Used to pay it.

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