Interest on delayed payment of TDS

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If you've paid your salary TDS for March 2020 after the due date of April 7th, you'll likely need to pay interest. The interest is calculated at 0.75% per month for the period of delay, which in this case is three months (March to May).

Bhai

Bhai (Querist)
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21 May 2020 Salary TDS for March 20 deposited on 21-05-20. Should I pay interest for 3 months. Pls clarify.
Hope Interest is at 0.75% per month.
Thanks.

PARAS CHHAJED

PARAS CHHAJED

(Expert)
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21 May 2020 Interest for 2 moths @9% pa

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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21 May 2020 You have to pay interest for 3 months @0.75 PM since you have not paid with due date 30th April you have to calculate interest from March to May

Prakash Kochar

Prakash Kochar (Expert)
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22 May 2020 TDS on Salary for month of March is payable on or before 7 th of next month in which salary is credited or paid. Interest liability will be for 2 months.

swasti

swasti (Expert)
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23 May 2020 Interest for 3 months @ 0.75% p.m.

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