Delay in deposit of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2012
Hi,
Tax was deducted on 31st October 2012 for payment made to vendor on the same date i.e. 31st Oct.12, but due to some reason it was not deposited on 7th November 2012.
Date of deposit was 10th November 2012.
Should interest @1.5% for 2 months be paid
Tax was deducted on 31st October 2012 for payment made to vendor on the same date i.e. 31st Oct.12, but due to some reason it was not deposited on 7th November 2012.
Date of deposit was 10th November 2012.
Should interest @1.5% for 2 months be paid
16 November 2012
interest for one month should be deposited. As per rule interest for late deposition of tds is from the date when tds deducted to date on which tds deposited. It is calculated on day to day basis i.e. in your case till 30th nov. it is only one month.
Message likes :
1 times
16 November 2012
Yes for 2 months. 1.5% for month per month or part of the month, As the section says that interest should be paid from the date of actual deduction ( Not the statutory due date of payment) to the date of actual payment.
16 November 2012
dileep ji it is calculated part of month but not in exact ways that you are saying. part of month will be calculated on day to day basis i.e. in this case 2nd month will be start from 1st of dec. in this case.
for example if tds deducted on 16th of oct. then 2nd month will start from 16th of nov. not from 1st of nov.
It's confirm and no discussion requird.
for example if tds deducted on 16th of oct. then 2nd month will start from 16th of nov. not from 1st of nov.
It's confirm and no discussion requird.
17 November 2012
Dear sourabh, section says EVERY MONTH or part of month.
However still some confusion is there , one can go beneficial way.
However still some confusion is there , one can go beneficial way.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
