Interest on tds
This query is : Resolved
08 February 2016
Sir,
We have deducted the TDS on dated 31.03.2014 for an amount of Rs. 8000/-, but by mistake this amount have not paid, Now we want to pay the same, so what will be the interest portion for that amount?
We have calculate.....
APRIL'14 TO FEB'16 = 23 MONTHS = 8000* 1.5% X 23= 2760/-
We have deducted the TDS on dated 31.03.2014 for an amount of Rs. 8000/-, but by mistake this amount have not paid, Now we want to pay the same, so what will be the interest portion for that amount?
We have calculate.....
APRIL'14 TO FEB'16 = 23 MONTHS = 8000* 1.5% X 23= 2760/-
08 February 2016
Interest u/s 201 for late payment of TDS is payable from the date on which tax was deducted to the date on which it is deposited.
Accordingly the period will be 31.03.2014 to 08.02.2016 = 24 months
Accordingly the period will be 31.03.2014 to 08.02.2016 = 24 months
08 February 2016
Interest to be calculated 24 months, you are liable late fee from 15th of may 2014
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- TDS Challan Code
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- SGST balance is there in credit ledger how to adjust for cgst
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
