Interest on late deposit of tds
Querist : Anonymous
Just wanted to know what are the consequences if any one does not deposit the same before filling of TDS return.
Received a notice for not depositing interest on TDS. In which interest @1.5% Pa is levied by AO on interest amount for late deposit of TDS. So this is interest on interest.
No interest on interest concept in any taxes. so 1.50% is the late payment interest for tds
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