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Interest on late payment of tds on salary

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 November 2014 We have deducted TDS on Salary Payment for the month of Oct-2014 on 05.11.2014 (salary paid on 05.11.2014) and deposit the TDS on 16.11.2014.

I want to know we are liable for paid the Interest on Late Payment of TDS?

if yes, what is the calculation?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 November 2014 yes. you are liable to pay interest @ 1.5% pm for two months: october and november.
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