Interest on delay eposit of tds

This query is : Resolved

CA. Rahul Dwivedi (Querist)
Follow

10 October 2011 Dear Sir,

I have deduted TDS of Rs. 1,124 on 20/09/2011 & Deposited the same on 08/10/2011, than how much interest i have to pay for delay.

As per my calculation it comes to Rs. 17 (1124 * 1.5%.

Pls suggest whether my calculcation is correct.

Thanks:

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

10 October 2011 Amount calculated is wrong. U need to pay two months interest only @ 1.5% which comes to Rs.3/-.

CA. Rahul Dwivedi

CA. Rahul Dwivedi (Querist)
Follow

10 October 2011 Dear Sir,
Thanks for prompt reply, however i think this intt rate of 1.5% is PM so i am not clear for 2 months how it comes to Rs. 3/-. One more thing delay in deposit is only by one days i.e. instead of 7th it is deposited on 8th, so whether we have to pay intt for 2 Months.
Pls clearify & Guide on the same.

Once again Thanking you

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Ashutosh Purohit

Anu Raj

Anurag Sharma

divakar podaturu

AJAY Kumar Agrawal

Subscribe Now

Interest on delay eposit of tds

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

Senior Executive

Accountant