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Interest for late payment

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(Querist)
13 August 2012 Sir

How is interest calculated on late payment of tds. Suppose we delay the payment by 5 days.How will it be worked out.Will the holidays in between will also be counted.

Premnath
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
13 August 2012 Example-JULY TDS SHOULD BE DEPOISTED UPTO 7 AUGUST.
TDS AMOUNT-RS10000
YOU ARE PAYMENT OF TDS ON 12 AUGUST.
INTEREST---10000*1.5%=RS12.5
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
13 August 2012 HOLIDAY WILL BE COUNTED.
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