interest on late deposite of tds
Querist : Anonymous
so we have calculated interest for two months . please suggest me that m i correct or not
Upto 30.06.2010 1% pm or for a part of a month from the date of deduction.
From 01.07.2010 1.5% pm or for a part of a month from the date of deduction.
• At one percent for every month or part of a month from the date on which such tax was deductible to the date on which such tax is deducted; and
• At one and one-half percent for every month or part of a month from the date on which such tax was deducted to the date on which such tax is actually paid.
The amended provisions are effective from 1st July 2010
Querist : Anonymous
if we deducted the tds in 25 june and paid in 15july after due date and i have calculated interest 1% for june month and 1.5% for the month of july.
please suggest m i correct or not.
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