Interest on TDS
This query is : Resolved
M. R. VAKALIYA
(Querist)
22 August 2009
Sir,
(1)
on 31-July-09 I have entered a bill in my accounting software the TDS amount deducted from that bill was Rs. 2500 but not paid till date.
I am going to pay that tds on 29-Aug-09 so what will be the amount with interest?
(2)
on 10-July-09 I have entered a bill in my accounting software the TDS amount deducted from that bill was Rs. 1500 but not paid till date.
I am going to pay that tds on 29-Aug-09 so what will be the amount with interest?
(1)
on 31-July-09 I have entered a bill in my accounting software the TDS amount deducted from that bill was Rs. 2500 but not paid till date.
I am going to pay that tds on 29-Aug-09 so what will be the amount with interest?
(2)
on 10-July-09 I have entered a bill in my accounting software the TDS amount deducted from that bill was Rs. 1500 but not paid till date.
I am going to pay that tds on 29-Aug-09 so what will be the amount with interest?
UMA SHANKER SHARDA
(Expert)
22 August 2009
add 12% p.a. for full month or it will be calculated on monthly basis not on days basis.
Aditya Maheshwari
(Expert)
22 August 2009
1. Interest for 1 month @ 1% p. m.
If you can change the bill to 1st August then u wil save on interest.
2. Interest for 2 months @ 1% p. m. as interest to be calculated from the days on which tax was deducted.
Interest on TDS not allowable expenses.
If you can change the bill to 1st August then u wil save on interest.
2. Interest for 2 months @ 1% p. m. as interest to be calculated from the days on which tax was deducted.
Interest on TDS not allowable expenses.
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