Interest liability on tds
This query is : Resolved
Gorav Kumar Goyal
(Querist)
19 March 2013
Dear Sir,
Tds not deducted when total payment was below thresh hold limit but after wards total payment goes beyond thresh hold limit of tds deduction.
Now whether Interest is required to be deposited on tds not dedcuted on earlier payment.
Thanks,
Gorav Goyal
Tds not deducted when total payment was below thresh hold limit but after wards total payment goes beyond thresh hold limit of tds deduction.
Now whether Interest is required to be deposited on tds not dedcuted on earlier payment.
Thanks,
Gorav Goyal
CA Prashant Gupta
(Expert)
19 March 2013
No,
you are following TDS rules
so when total payment is less than limit then no TDS liability
when it exceed you deducted TDS on full amount. So no interest on that
you are following TDS rules
so when total payment is less than limit then no TDS liability
when it exceed you deducted TDS on full amount. So no interest on that
CA Ayush Agarwal
(Expert)
20 March 2013
Yes, No Interest on That.
But Payment date should not go beyond the due date.
But Payment date should not go beyond the due date.
Gorav Kumar Goyal
(Querist)
22 March 2013
Thanks for reply.
Yes No interest will be applicable.
Yes No interest will be applicable.
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