Interest on late payment - tds
This query is : Resolved
22 February 2014
Received a demand intimation from tdscpc.gov.in
In their excel file the demand was raised like this. Kindly give your opinion about the calculation.
Date of Deduction : 30-June-2013
Due date for TDS deposit : 08-Jul-2013
Date of Deposit thro.OLTAS : 25-Jul-2013
Period of Delay in months : 2
Interest on Late Payment u/s201(A) is calculated as above. Two months delay is notified in excel sheet. How ? Can anyone explain it sir.
In their excel file the demand was raised like this. Kindly give your opinion about the calculation.
Date of Deduction : 30-June-2013
Due date for TDS deposit : 08-Jul-2013
Date of Deposit thro.OLTAS : 25-Jul-2013
Period of Delay in months : 2
Interest on Late Payment u/s201(A) is calculated as above. Two months delay is notified in excel sheet. How ? Can anyone explain it sir.
22 February 2014
yes this is how it is calculated. interest is computed for month or part of the month basis. One month - June, second month - July.
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22 February 2014
Thank U for your good reply, Sir
But the due date for TDS deposit starts only in the month of July. How did June month took for calculation? Is it correct sir
But the due date for TDS deposit starts only in the month of July. How did June month took for calculation? Is it correct sir
22 February 2014
once you have delayed the payment, the interest starts from the date of deduction
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