Interest on TDS
This query is : Resolved
23 March 2011
Sir
A Firm has not paid TDS from June to Feb.
I Have calculated tds. for Each Month.
Please say how to calculate interest on TDS.
Is their any calculation.Below calculation is right or wrong please reply.
TDS Value x 18% X delay days / 365 days
Regards
Sir
A Firm has not paid TDS from June to Feb.
I Have calculated tds. for Each Month.
Please say how to calculate interest on TDS.
Is their any calculation.Below calculation is right or wrong please reply.
TDS Value x 18% X delay days / 365 days
Regards
23 March 2011
This method is wrong.
Interest rate on late deposit of TDS is 1.5% per month w.e.f 01.07.10.
For details see below link. Same type of question has been answered in details.
https://www.caclubindia.com/experts/tds-577865.asp
Interest rate on late deposit of TDS is 1.5% per month w.e.f 01.07.10.
For details see below link. Same type of question has been answered in details.
https://www.caclubindia.com/experts/tds-577865.asp
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