Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

interest on tds

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2011 if a persons deducted tax on 7th april and liable to pay to govt. on 7th may i.e 7 days after the close of the month in which tds is deducted ..

but tds to the govt. is paid by him on 8th june

wt is the amt of interest to be charged u/s 201 for failure to pay tds in time limit prescribed .

how many months interest..

whether 1 month or 2 months as fraction is also a month????

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)

09 June 2011 One and half month for every month or part of month on the amouunt of such Yax deducted from the date on which such tax was deducted to the date on which such tax is actually paid.

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2011 can u pls give me d exact months in the above case, 1.5% for how many months n why?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now