Interest on tax payable
This query is : Resolved
25 August 2012
HI,
Total tax liability is Rs.406209/- Out of which TDS deducted is Rs. 268651/- and balance is payable.
How to calculate the interest on Rs. 137558-/ till date.
Thanks & regards.
Total tax liability is Rs.406209/- Out of which TDS deducted is Rs. 268651/- and balance is payable.
How to calculate the interest on Rs. 137558-/ till date.
Thanks & regards.
25 August 2012
@ 18% of Interest PA
Formula is ((Due amount * 18%)/12)*No.of Months Interest Due
If you have 15 months Interest due
formula like = ((137558*18%)/12)*15
Interest due by you is = Rs 30,951/-
Formula is ((Due amount * 18%)/12)*No.of Months Interest Due
If you have 15 months Interest due
formula like = ((137558*18%)/12)*15
Interest due by you is = Rs 30,951/-
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