Interest on late payment of tds
This query is : Open
Amit Saxena
(Querist)
12 November 2011
Sir,
I want to know that if TDS deposited after the due date of the month and before the end of the month then the liability of interest i.e 1.5% will be born for full month or part of the month.
Amit Saxena
I want to know that if TDS deposited after the due date of the month and before the end of the month then the liability of interest i.e 1.5% will be born for full month or part of the month.
Amit Saxena
Kishanlal Paliwal
(Expert)
14 November 2011
The Rate of interest applicable is month basis, means for any part of the month it is payable for the whole month.
Regards
K.L.Paliwal
Regards
K.L.Paliwal
RAMESH KUMAR VERMA
(Expert)
14 November 2011
If any deductor deposit TDS only after 1 day from due date. It does not mean that only one day itnerest will be charged. Income Tax Department will charge interest for a month instead of a day.
15 November 2011
Yes interest will be charge for whole month agree with mr.ramesh & kishanlal
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