interest on tds
This query is : Resolved
21 March 2009
sir
1)please say that how should i calculate tds interest for period april to feb not yet paid tds amount is rs 74695.00 please say the formula and say what are the last date for payment of tds.
2) should the interest debited to party or shown in expenses.
what date should be consider for cal. interest if i pay tne amont dt 7/3/2009
1)please say that how should i calculate tds interest for period april to feb not yet paid tds amount is rs 74695.00 please say the formula and say what are the last date for payment of tds.
2) should the interest debited to party or shown in expenses.
what date should be consider for cal. interest if i pay tne amont dt 7/3/2009
21 March 2009
interest will be charged for 12 months i.e. april to march even if u pay on 7 march...
it will be calculated @ 1% per month...
interest should be given to the govt. and it is not allowable expense as per i.tax act
it will be calculated @ 1% per month...
interest should be given to the govt. and it is not allowable expense as per i.tax act
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