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Interest on delayed payment - tds

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(Querist)
25 August 2016 Dear Experts,

I have one issue regarding payment of interest on late payment of TDS, suppose if i delayed by one day for making payment, i.e my TDS payable is Rs. 1000/- i have paid it on 8th of subsequent month, then i need to pay interest @ 1.5% for one month, means 15 Rs, but Tracess will calculate it as either interest 3% or 2 months delay and arrives interest liability Rs. 30/- What is the reason behind this? which section or rule applies for this?

Raghavendra
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 August 2016 Interest payable is 1.5% per calendar month. So even in case of delay of one day interest will be payable for 2 months i.e., 3%.
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