Interest charges on late payment
This query is : Resolved
05 June 2014
Please let me know we have not paid the salary tds for the month of February'2014 & paid tds on 05/06/2014. What should be interest amount and how it will calculate.
Please reply urgently.
Please reply urgently.
05 June 2014
Interest shall be paid @1.5% per month from the date of deduction till the date of payment where part of month is considered as full month. So in your case, interest shall be paid for 5 months i.e. 7.5% of the TDS amount.
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