Int. on late payment of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2013
we have received notice from TRACES for int. on late payment of TDS. We have deducted TDS on 30/06/2013 & made payment of on 09/07/2013. They charged int. for 2 months. whether it is correct. & how. is their any circular .pls guide
CA PARAS BAFNA
(Expert)
21 November 2013
This is correct but unreasonable.
.
Interest is calculated for the month or part of the month from the date of deduction.
.
Due date comes into picture when the payment is made on or before it.
.
.
Interest is calculated for the month or part of the month from the date of deduction.
.
Due date comes into picture when the payment is made on or before it.
.
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