Interest calculation on tds

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shobha s (Querist)
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22 January 2015 Date of deduction - 24-07-2014
Date Due Date for TDS Deposit - 07-08-2014
Date of Deposit - 12-08-2014
What is the period of delay for the calculation of Interest on TDS?? Could anyone please tell me about this provision??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 January 2015 Interest on late deposit of TDS is to be paid @ 1.5% per month or part thereof.

In the given case Interest on late deposit of TDS is to be paid for two months i.e., 3% of the TDS amount.

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Rupesh Jain

Rupesh Jain (Expert)
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22 January 2015 it will be taken for the date of deduction to data of deposit its will be for 2 month @ 3%.

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shobha s

shobha s (Querist)
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23 January 2015 Could u please tell me how 2 months delay is calculated..??

shobha s

shobha s (Querist)
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23 January 2015 Could u please tell me how 2 months delay is calculated..??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 January 2015 One month for July and one month for August. Interest is for one month or part thereof so two months interest to be paid.

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