Interest on late payment of tds
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 September 2017
We have made payments to a party on which TDS was to be deducted @ 10%. TDS was not deducted and full payment was made to the party since April, 2017 to August, 2017.How will we calculate interest on late deduction and late payment if payment was made on 17th April, 2017 and TDS deducted on 12th September, 2017 and the payment of TDS also made in September, 2017. Also explain whether interest on late payment will be calculated from the date of deduction that is September,2017 or from the date the TDS was required to be paid that is 07th May, 2017.
Pls clarify the above
Thanks & Regards
Pls clarify the above
Thanks & Regards
12 September 2017
You ll be calculate Date of Deduction. After deductions you can't paid the tds to govt. Then only it's interest applicable...
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