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Interest on late deposit of tds on salary

This query is : Resolved 
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(Querist)
25 December 2013 Dear Sir,
In financial year 2010-11 in our company Salary for March 2011 is credited on 31.03.2011 in the books.

TDS on the same Rs.1083777/= is paid to govt treasury on 31.05.2011.

We have paid Rs.32513 as interest on late deposit of TDS. (1.5%pm for 2 months on 1083777)

Now we have recd notice from traces asking for addl.late payment interest of Rs.16249

Total interest according to dept.is Rs.48762.
Pls provide calculation for this.

Regards
Arun
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TRINATH

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TRINATH (Expert)
25 December 2013 INTEREST CALCULATED FOR 3 MONTHS @1.5% BY AO

AS PER BELLOW

EX:
TDS DEDUCTED 01/12/2013
DUE DATE IS 07/01/2013
BUT TDS DEPOSITED ON 08/01/2013

INTEREST WILL BE CALCULATED @ 3%

FOR TWO MONTHS
IN YOUR CASE YOU LIABLE TO PAY INTEREST 4.5%
i.e 1083777 * 4.5% = 48770/-
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