How to calculate interest under tds
This query is : Resolved
12 January 2014
We have not deducted Tds in the month of August dated 27th august 2013 in one bill Amount 700000 now we have deducted tds on 10 th Jan 2014 Rs 70000. Now how shall we compute interest to be payable 1% and what will be interest amount to be deposited and what will be the treatment of this interest amount?
12 January 2014
Hi
From Aug 13 to Jan 14, i.e. 1% int. for 6 months which comes to 6% on 70000/-
Thanks
From Aug 13 to Jan 14, i.e. 1% int. for 6 months which comes to 6% on 70000/-
Thanks
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