Interest on TDS

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Golak Panigrahy (Querist)
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06 June 2011 dear sir
what is the interest on TDS for no t deposited is it 13 % or 18%.

can i deposited the basic amount & interest separately.

if yes in which challan the interest will be deposited

plz reply. urgently

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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06 June 2011 w.e.f. 1-7-2010 interest under section 201(1A) shall be charged as under —
(i) at one per cent. for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and
(ii) at one and one-half per cent. for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid, and such interest shall be paid before furnishing the statement in accordance with the provisions of sub-section (3) of section 200.
THERE IS NO RATE OF 13 OR 18

CA MANOJ GUPTA
JODHPUR
09828510543

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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06 June 2011 Rate of Interest on late deposit-1.5% p.m

Rate of Interest on late deduction-1% p.m

Deposit Interest and TDS in same challan.

Use ITNS 281 to deposit the same.

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