Interest of tds for late payment
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
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
(Expert)
26 June 2013
You have to pay interest for 1 month only.
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
(Expert)
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
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
