Interest on late payment of tds
This query is : Resolved
17 May 2014
tds deducted on 31.03.2014 but deposited in 4.05.2014? many of the people says interest is applicable for 2 months but in my opinion interest is payable for 3 months .kindly clarify.
17 May 2014
Yes Karishma Interest will b applicable for 3 months date of deduction ,delay payment
n payment month. Now try to understand.
The due date of payment is 7th of next month n u have submitted it on 4th of may. Hence Interest will b applicable for date of Deduction i.e, March, delay payment i.e, April n month of payment i.e, May. If u have submitted it on 30th of April then 2 months interest will b charged.
n payment month. Now try to understand.
The due date of payment is 7th of next month n u have submitted it on 4th of may. Hence Interest will b applicable for date of Deduction i.e, March, delay payment i.e, April n month of payment i.e, May. If u have submitted it on 30th of April then 2 months interest will b charged.
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22 May 2014
as per income tax 2 month intt will be paid. but as per TRACE it will be 3 month.
24 May 2014
Kindly Clarify the Provisions of Income Tax acc. to which intt of 2 month is Applicable.
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