Interest on tds
This query is : Resolved
smit sharadkumar dave
(Querist)
07 July 2012
IF any expenses is booked in the month of may on which TDS is deducted and required to be deposited by 7th June ,which i forgot to deposit and now i would like to depoist by today i.e. 7th july . so should I pay 1.5% interest or 3% interest on Such TDS
CMA Ramesh Krishnan
(Expert)
08 July 2012
If the TDS is actually deducted and not paid to the Govt then the Interest rate is 1.5% per month or part of the month from the date of deduction,in case you are deducted TDS on 31st May and not paid till date then May/June/July - 3 Months - 1.5 x3= 4.50% Interest need top pay
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