Interest on tds..

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Nitesh (Querist)
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10 October 2012 If i paid rent on 30.04.2012 on which i have deducted TDS..now i want to pay such TDS on 10.10.2012 and i have calculated interest rate @ 1.5% per month for the period of 6 months....
i just need your help to know that 6 months are the true period for interest calculation..

pls help..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 Yes Nitesh you are correct. Interest to be paid for 6 months @1.5% per month.

Nitesh

Nitesh (Querist)
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10 October 2012 Thank you....

Nitesh

Nitesh (Querist)
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10 October 2012 I just need one more clarification if I deposited the same on or before 07.10.12..then still interest will be calculated for the period of 6 months...

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 Yes even if you had deposited the amount on 07.10.12 Interest would have been applicable for 6 months.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 https://www.caclubindia.com/experts/tds-577865.asp

Also see above link for details of calculation of interest on late deposit of TDS.

Nitesh

Nitesh (Querist)
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10 October 2012 if i wrongly paid tds of 2 quarters on a single challan then is it possible to take credit against that single challan for the returns of both quarters...

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 Deposit separate challan for each quarter to avoid any problems.

Nitesh

Nitesh (Querist)
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12 October 2012 Dear Sanjay,
I have an Query....
Q:- I am working with ABC pvt Ltd and our manufacturing plant has situated at SEZ area..so that we got exemption under Excise and Income Tax....now further my organization want to purchase an existing plant which is also situated at that SEZ area....It is not an amalgamation or merging...its simple purchase of Plant...so now I need to know whether we get the same benefit under Income Tax as availing against own Manufacturing Plant...
Pls help..

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