Interest on late deposit of TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2011
Dear Sirs,
We had deducted TDS on april'10 bur till now it has not been deposited. please suggest how to calculte interest.
whether interest is to be calculated @ 1.5% for the total period of default as per the current rate applicable effective from 1.7.10 or 1% upto 30.6.10 and then 1.5%.
Kindly suggest,
Thank you,
We had deducted TDS on april'10 bur till now it has not been deposited. please suggest how to calculte interest.
whether interest is to be calculated @ 1.5% for the total period of default as per the current rate applicable effective from 1.7.10 or 1% upto 30.6.10 and then 1.5%.
Kindly suggest,
Thank you,
28 March 2011
1% p.m. upto 30.6.10
1.5% p.m. 01.07.10 onwards
1.5% p.m. 01.07.10 onwards
Vivek Raju P
(Expert)
28 March 2011
Yes agree with Sanjay,
Add to that the expense will be disallowed u/s 40(a)(ia) as the TDS has to be deposited before the end of the previous year, the expense will be allowed once the TDS is paid in that year
Add to that the expense will be disallowed u/s 40(a)(ia) as the TDS has to be deposited before the end of the previous year, the expense will be allowed once the TDS is paid in that year
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
