How calculate interest on tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2013
How to Calculate TDS Interest Date of Payment 01-05-2013 TDS is 2250.00
TDS Paid on 06-07-2013.
TDS Paid on 06-07-2013.
Ganeshbabu K
(Expert)
11 September 2013
Sec.201(1A)
interest on tds is to be caluculated for the period from the date of deduction of tds to date of payment of tds
.
.
so interest for 3 months at the rate of 1.5% permonth
[ part of month also considered as month for caluculation of interest]
So interest on tds is =2250*3*1.5%
interest on tds is to be caluculated for the period from the date of deduction of tds to date of payment of tds
.
.
so interest for 3 months at the rate of 1.5% permonth
[ part of month also considered as month for caluculation of interest]
So interest on tds is =2250*3*1.5%
CA Pallav Singhania
(Expert)
11 September 2013
If you haven't deducted TDS then the Rate will be 1 percent per month or if deducted then follow the expert advice...
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