Interest on delayed payment of tds

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Geetanjali Savarkar (Querist)
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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?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 February 2014 it will be two months. April and May 2012.

Geetanjali Savarkar

Geetanjali Savarkar (Querist)
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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?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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24 February 2014 no Geetanjali. Income tax department calculates interest on calender month basis only.

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