Interest on delayed payment of tds
This query is : Resolved
20 February 2014
Date of Payment and Date of Deduction is 10/04/2012, the due date is 07/05/2012. However the date of deposit is 09/05/2012. Will the period of delay in deposit be 1 month or 2 months for calculation of interest thereon?
Is the period to be calculated from 01/04/2012 to 31/05/2012 as 2 months?
Or is the period to be calculated from 10/04/2012 to 09/05/2012 as 1 month?
Is the period to be calculated from 01/04/2012 to 31/05/2012 as 2 months?
Or is the period to be calculated from 10/04/2012 to 09/05/2012 as 1 month?
24 February 2014
it will be two months. April and May 2012.
24 February 2014
No but this example is dispalyed on a professional site and the period taken is one month. SO is the period to be taken as a month of 30 days?
24 February 2014
no Geetanjali. Income tax department calculates interest on calender month basis only.
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