Interest on delay payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2014 if TDS deposited by cheque on 7th of following month,
cheque realisation date is 9th
Amount shown in NSDL is 13
then interest on delay payment of TDS from which date is taken.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 September 2014 Interest on delay in payment of TDS is considered from the date of deduction till the date of payment.

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2014 sir in the above case Last date payment should be taken, Realisation date or NSDL shown Date.for interest calculation

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 September 2014 Date as per challan counterfoil. Which is realization date.

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2014 sir one more question
similar case may apply in the case of service tax payment by cheque,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 September 2014 No. For delay in payment of service tax, interest is calculated from the Due date till the date of actual payment.

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2014 sir if
cheque tender date is 5th
cheque realisation date is 9th
then interest may be calculated from 5th to 9th for 4 days,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 September 2014 What is the date in the counter foil of challan as per bank seal. That date is relevant. If the date in challan is 5th which is stamped by bank. Then no need to pay any interest. If its a later date the you will have to pay interest

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2014 sir after cheque deposit bank give counterfoil 2 or 3 days later then
on which date bank bank may stammped
tender date or counterfoil given date.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 September 2014 It may be any date. But that date on challan is all that matters.

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