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Interest on delay of tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 February 2013 Dear All,

Some one please inform me.
If, we deducted TDS on say 15.12.2012 and deposited on 14.02.2013 and

ii) we deducted TDS on 15.12.2012 and deposited on 15.02.2013 and

iii) we deducted on 15.12.2012 and deposited on 16.02.2013.

Please reply for how many months interest to be paid in above three cases respectively.
Please Sir.
Thanks in advance.
Anil Jain 9312640067
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CA Rinkal

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CA Rinkal (Expert)
09 February 2013 the liability to deposit tax arises within 1 week from the end of the month in which deduction is made...


So in this case your liability arises as on 07-01-2013, but you deposit as on 14-2-13, 15-02-13, 16-02-13..

it means you need to pay simple interest @ 1.5% p.m. for two month in all the three cases.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
18 August 2023 Agreed with expert.
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