deposit of TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
One of our client has recd a notice of interest on TDS.
Payment dt 07/08/2009
Date of deposit 11/09/2009
Since tax is to be deposited within a week of the month of deduction, interest of 1 month should be charged, however a demand of 2 months has been raised by IT deptt, Please advise.
Payment dt 07/08/2009
Date of deposit 11/09/2009
Since tax is to be deposited within a week of the month of deduction, interest of 1 month should be charged, however a demand of 2 months has been raised by IT deptt, Please advise.
23 May 2011
Here 1 month has been crossed and hence 2 months interest will be levied.
Your due date was 7th September, deposited on 9th September.
7th Aug to 7th Sep 1 month
since it exceeded that 2 month interest is applicable.
Your due date was 7th September, deposited on 9th September.
7th Aug to 7th Sep 1 month
since it exceeded that 2 month interest is applicable.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
There will not be any interest till 7 sept since due date is 7 sept hence there should be one month interest in case deposited after 7 sept before 30 sept.
pl advise
pl advise
23 May 2011
Yes there will not be any interest till 7th September but if deposited on 9th you will have to pay 2 months interest since more than a month has elapsed from the date of deduction.
23 May 2011
https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp
Also see article from above link for details.
Also see article from above link for details.
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