Interest on default of tds
This query is : Resolved
balasundaram
(Querist)
10 October 2011
dear all,
please find the following details (default status of Our TDS) as per NSDL.
Date of deduction 30-JUN-2010
date of deposit 09-JUL-2010
due date 07-JUL-2010
TDS Amount 10100/-
no. of Months default 1
amount of Interest 146.00
according to the above the default period is 1 month is showing but interest is showing 146/-. as per our calculation one month default @ 1% pm is 101/-
kindly clarify
please find the following details (default status of Our TDS) as per NSDL.
Date of deduction 30-JUN-2010
date of deposit 09-JUL-2010
due date 07-JUL-2010
TDS Amount 10100/-
no. of Months default 1
amount of Interest 146.00
according to the above the default period is 1 month is showing but interest is showing 146/-. as per our calculation one month default @ 1% pm is 101/-
kindly clarify
Pravin Jadhav
(Expert)
11 October 2011
See, Int. Rate is 18% P.A
therefore, 10100*18%/12*1=151/-
pay it, it is correct.
therefore, 10100*18%/12*1=151/-
pay it, it is correct.
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