Interest on tds

This query is : Resolved

Suman Kumar Roy (Querist)
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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/-

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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08 February 2016 Interest to be calculated 24 months, you are liable late fee from 15th of may 2014

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