Interest on late deposit of tds deducted
This query is : Resolved
16 July 2014
Dear Friends and experts,
Just wanted to know if the TDS is done on let's say 30/04/2014 and the same is paid to Govt on 08/05/2014 (delay 1 day).
Do I need to pay interest @ 1.5% pm for 2 months or 1 month.
Thanks for your time
Just wanted to know if the TDS is done on let's say 30/04/2014 and the same is paid to Govt on 08/05/2014 (delay 1 day).
Do I need to pay interest @ 1.5% pm for 2 months or 1 month.
Thanks for your time
16 July 2014
I THINK IT WILL BE FOR 2 MONTHS FOR THE MONTH OF APRIL AND MAY AS EVEN 1 DAY IS COUNTED AS A MONTH.
16 July 2014
Under the given situation department is charging interest for 2 months but in my view interest should be paid for 1 month only. Let other expert give their views in light of interest calculation method adopted by IT Department.
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