Interest calculation for late payment of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 December 2012
Dear Sir
I deducted TDS on 4/10/2011 and deposited on 08/12/2011. Plz. tell me default month is 3 month or 2 month and please provide me the calculation of Interest & Interest on Interest.
I will be highly obliged to you.
Warm Regards
Deepak
I deducted TDS on 4/10/2011 and deposited on 08/12/2011. Plz. tell me default month is 3 month or 2 month and please provide me the calculation of Interest & Interest on Interest.
I will be highly obliged to you.
Warm Regards
Deepak
10 December 2012
Charging of Interest u/s. 201(1A) of the Act.
1% p.m. or part of the month on the amount of such tax from the date on which it was deductible to the date on which it is deducted.
1.5% p.m. or part of the month on the amount of such tax from the date on which it was deducted to the date on which it is actually paid.
1% p.m. or part of the month on the amount of such tax from the date on which it was deductible to the date on which it is deducted.
1.5% p.m. or part of the month on the amount of such tax from the date on which it was deducted to the date on which it is actually paid.
10 December 2012
No. of months for default
2 months 4 days. 4 days will be converted into 1 month.
Therefore you have to pay interest for 3 months @ 1.5% p.m.
2 months 4 days. 4 days will be converted into 1 month.
Therefore you have to pay interest for 3 months @ 1.5% p.m.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2012
Thankyou Sir
but if I deducte TDS on 10/10/2011 then the deault month is for 2 month or 3 month.
but if I deducte TDS on 10/10/2011 then the deault month is for 2 month or 3 month.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
