Interest on tds
This query is : Resolved
29 November 2011
If TDS deduction date is 5.10.11 and we deposit the TDS amount on dt.10.11.11, then interest will be calculated for how many month?
PLZ help
PLZ help
Aditya Maheshwari
(Expert)
29 November 2011
two months
29 November 2011
Sir, why two months?
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
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29 November 2011
Sir, why two months?
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
29 November 2011
Sir, why two months?
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
29 November 2011
Sir, why two months?
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
there is rule that TDS shall be deposited within 7 days of following month for last months deduction.
so in this case, TDS deposit date shall be 7.11.11, but we are depositing on dt.10.11.11, so one month interest should be charged.
plz clarify this.
29 November 2011
Correct Reply given by the expert. Interest will be applicable for 2 months.
See below link for more clarification---
https://www.caclubindia.com/experts/tds-577865.asp
https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp
See below link for more clarification---
https://www.caclubindia.com/experts/tds-577865.asp
https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp
Aditya Maheshwari
(Expert)
29 November 2011
Interest payable from date of deduction.
CA Ayush Agarwal
(Expert)
29 November 2011
Yes. That is right that interest payable only when not paid before 7th of following month. But calculation to be made from month of deduction.
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