Interest calculation procedure of intimation u/s 154 of i.t.

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suhas potadar (Querist)
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19 March 2014 I have filed a TDS return of 2nd qtr. But it was late filed by 2 days for that I have received intimation u/s 200A of I.T.Act 1961 of Rs. 400/-. I have been paid that amount with interest & filed the return.But again i have received one intimation u/s 154 of I.T. Act of Rs.410/-(408). That amount is called as late filing levy. I just want to know the calculation process of the above matter. Plz give reply as early as possible.

CA Manish Sharma

CA Manish Sharma (Expert)
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19 March 2014 Have you filed correction statement after payment of Late fees. I am sure not. Please file the Correction statement stating the amount in fees column of the statement.

You can check E tutorial in TRACES for the same.

suhas potadar

suhas potadar (Querist)
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20 March 2014 Yes, I have filed the correction statement also. But I want the procedure for calculating the interest & late filing levy on that interest. If you have any idea about the availability of the excel sheet of calculations plz tell me. Thanks

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