Interest Calculation
This query is : Resolved
Rajkumar Maheshwari
(Querist)
05 March 2008
How to calculate Interest on TDS [ On 10.04.2007 a sum of Rs. 55000/- paid towards labour payment but no TDS were deducted at there time. on 29.02.2008 Rs. 1133/- Deducted as TDS on that amount @ 2.06% & on 07.03.2008 TDS is to be deposit with Interest. How to calculate the Interest Amount @ 1% p.m. on Rs. 1133/-. How many months interest is to be calculat.
jegannath G
(Expert)
05 March 2008
interest @ 1% per month for the default period
06 March 2008
Int is calculated @1% per month or part thereof for the period of default
CA. Kirti S. Ganatra
(Expert)
06 March 2008
1% p.m. you can check share files there is software for interest calculations
Rajkumar Maheshwari
(Querist)
06 March 2008
How to calculate Interest on TDS [ On 10.04.2007 a sum of Rs. 55000/- paid towards labour payment but no TDS were deducted at there time. on 29.02.2008 Rs. 1133/- Deducted as TDS on that amount @ 2.06% & on 07.03.2008 TDS is to be deposit with Interest. How to calculate the Interest Amount @ 1% p.m. on Rs. 1133/-. How many months interest is to be calculat.
MANAS ROUT
(Expert)
06 March 2008
TDS AMOUNT 1133.00
Interest @1% per month 124.63
(for 11 months)
-------------------------------------
TOTAL 1257.63/-.
Interest @1% per month 124.63
(for 11 months)
-------------------------------------
TOTAL 1257.63/-.
CA J M Pattanayak
(Expert)
07 March 2008
Its 1 % per month..
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