Interest on Interest
This query is : Open
20 August 2009
Sir,
For the month of April'09 the due date of deposit is 5th May'09.
I have deposited the service tax of Rs. 10,000/- on 5th July'09.
Till date I have not deposited interest on service tax.
If I calculate interest upto 5th July'09 and deposit now,would it be in order or how should I calculate and deposit delayed interest.
What is the relevant provisions for this. Kindly help me.
For the month of April'09 the due date of deposit is 5th May'09.
I have deposited the service tax of Rs. 10,000/- on 5th July'09.
Till date I have not deposited interest on service tax.
If I calculate interest upto 5th July'09 and deposit now,would it be in order or how should I calculate and deposit delayed interest.
What is the relevant provisions for this. Kindly help me.
14 September 2009
Your calculation would be in order.
A plain reading of the provision is that, in case of delay, tax should be paid along with interest.
A plain reading of the provision is that, in case of delay, tax should be paid along with interest.
18 September 2009
Thank you sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
