Interest on late payment of tds

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Amit Saxena (Querist)
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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

Kishanlal Paliwal

Kishanlal Paliwal (Expert)
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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

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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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.