Interest of tds for late payment

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2013 A Very Good Morning to All of you!!!!!
There is some confusion related with interest calculation on late deposit of TDS, suppose I have made a payment on 31st May 2012 and under some circumstances, I didn’t deposit it on due date i.e. 07th June 2012 and deposited the same on 18th June 2012.
Now I want to know opinion from your side that interest should have been charged for 1 month or for 2 month.
Please advise

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 June 2013 You have to pay interest for 1 month only.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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26 June 2013 Agree with Paras Sir interest need to be paid for 1 month only i.e., 1.5% of the TDS amount.

Ganeshbabu K

Ganeshbabu K (Expert)
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26 June 2013 Yes,,it is

1)Interest applicable for 1 month only..

2)period for interest=(date of deduction of tds to date of deposit of tds)

part of month also considered as month for caluculation of interest

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