Interest on tds
This query is : Resolved
26 July 2012
My client had to deposit interest in Jan 2010 but he deposited it in May 2010.
Now we are paying the interest on late TDS. Should we pay the interest for those two months only or inerest for 2 months and interest on interest till date ?
Now we are paying the interest on late TDS. Should we pay the interest for those two months only or inerest for 2 months and interest on interest till date ?
Amol S Joglekar
(Expert)
26 July 2012
Please take a note.. there are 2 types of interest. One is as you rightly said i.e. late deduction of TDS. The second one, probably you are mistaking... i.e. late deposit of TDS.
26 July 2012
Sir,
We had deposited the TDS but not interest. Now we are depositing the interest.
We had deposited the TDS but not interest. Now we are depositing the interest.
Suresh Mittal
(Expert)
26 July 2012
Pls Note that interest is to be paid from the date of deduction and not from due date of deposit of TDS.
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