Interest on t.d.s.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 August 2013 I HAVE MADE PAYMENT OF INTT TO A CO. ON 05/04/2013
05/05/2013
05/06/2013
05/07/2013
05/08/2013

BUT CREDITED THE INTT TO CO.'s ACCOUNT ON 05/08/2013 & WILL DEPOSIT THE SAME ON 05/09/2013.
Pls guide regarding on calculation of intt on t.d.s. (for late deduction & late deposit)

30 August 2013 05/05/2013 - 3 Months @1%

05/06/2013 - 2 Months @1%

05/07/2013 - 1 Months @1%

05/08/2013

So total amount of interest to be paid 6% of TDS amount.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2013 Thank you very much sir

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2013 Late deposit ka intt to nhi lgega?
What if i deposit the same on 05/10/2013?

31 August 2013 If you deposit on 05/10/2013 additional interest on late deposit need to be paid for 2 months @1.5% per month.

Therefore total interest to be paid will be 9% of TDS amount.


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