Interest on late payment of tds on salary
This query is : Resolved
Querist : Anonymous
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?
I want to know we are liable for paid the Interest on Late Payment of TDS?
if yes, what is the calculation?
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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