Interest on late deposit of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2011
Interest on late deposit of TDS is to be deposited before filling of TDS return U/S 201 of income tax Act.
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.
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.
16 December 2011
Interest not deposited it will be shown under Tax audit report as observations.
No interest on interest concept in any taxes. so 1.50% is the late payment interest for tds
No interest on interest concept in any taxes. so 1.50% is the late payment interest for tds
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