I have a query in my mind, suppose i have deposited TDS of Rs. 1236 on 8th August 2009 for which due date is 7th August 2009, Now question is whether interest on late deposit of TDS will be calculated till current date or only for 1 month. Because interest is calculated for the month or anypart thereoff.
I have done audit the same in the month of November, 09, Whether interest will be calculated till novermber end i.e for 4 months or for 1 month i.e only for the delayed period.
15 December 2009
Interest is to be calculated from the date on which tax was deductible AND NOT FROM THE DUE DATE OF PAYMENT to the date on which it is actually paid.
CAclubindia
