Interest on late deposit of tds
This query is : Resolved
10 January 2014
I had noticed in many demand raised by tds department that they are charging interest for two months instead for one month on late deposit of tds even if tds deposit on 8th of nxt month i.e. 1 day late.
please suggest whether i should do half payment of demand and make a letter for correction of demand with that or i should pay in full ???
please specify relative reading if any.
10 January 2014
well that is how it calculated. The month or part of the month referred to in the act is calender month. So lets say if you deduct on 31 december and pay on 8 jan instead of 7 jan, then 2 month interest is charged for december and january!!
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