Interest on late payment of interest on tds
This query is : Resolved
19 March 2012
Dear Friends,
Is their any section and their corresponding rate regarding the Interest on late payment of Interest On TDS deducted by the Assessee
Please give your suggestion regarding this.
Thanks
Is their any section and their corresponding rate regarding the Interest on late payment of Interest On TDS deducted by the Assessee
Please give your suggestion regarding this.
Thanks
20 March 2012
Dear Nitesh.
Section 200 gives responsibiity to pay the tax so deducted within due date.
Section 201 tells who is responsible and who will be treated as assesee in default in case deducted tax is not paid.
Section 201(1A) levies interest @ 1% per month or part thereof for delay in deduction of tax and
1.5% per month or part thereof for delay in remittance of tax so deducted.
Section 200 gives responsibiity to pay the tax so deducted within due date.
Section 201 tells who is responsible and who will be treated as assesee in default in case deducted tax is not paid.
Section 201(1A) levies interest @ 1% per month or part thereof for delay in deduction of tax and
1.5% per month or part thereof for delay in remittance of tax so deducted.
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