Interest on late payment of tds to govt.
This query is : Resolved
04 July 2013
Dear Sir
Amount of TDS Rs.16807 payable on 07.05.2012 but we have paid this TDS amount on 16.07.2012. How much interest we will have to pay to the govt on this?
Thanks
Arun
Amount of TDS Rs.16807 payable on 07.05.2012 but we have paid this TDS amount on 16.07.2012. How much interest we will have to pay to the govt on this?
Thanks
Arun
04 July 2013
Please mention the date of TDS deduction so that exact interest liability can be calculated.
Interest on late payment of TDS is 1.5% per month or part thereof.
Interest on late payment of TDS is 1.5% per month or part thereof.
05 July 2013
TDS deduction date was 30/04/2012
05 July 2013
Interest to be paid for 3 months @1.5% of the TDS amount.
TDS Rs 16807/-
Interest (4.5% of Rs 16807)=Rs 756/-
Total = Rs 17563
TDS Rs 16807/-
Interest (4.5% of Rs 16807)=Rs 756/-
Total = Rs 17563
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