Interest on tds
This query is : Resolved
19 January 2012
Dear friend,
Please advise me on the following issue.
1) TDS deducted on 15 June 2010 ,but TDS remitted to Govt on 08 July 2010.(one day delay but attarcts 1 month interst)
what will be interest rate applicable to the above payment i,e either 1% or 1.5 % per month.
Note: dept has raised a demand with 1.5% interest rate.
in my view that liability belongs to June 2010.Hence old interest reate (1%) is appicable .
Please suggest me on the above with supporting documents/notifications if any.
Please advise me on the following issue.
1) TDS deducted on 15 June 2010 ,but TDS remitted to Govt on 08 July 2010.(one day delay but attarcts 1 month interst)
what will be interest rate applicable to the above payment i,e either 1% or 1.5 % per month.
Note: dept has raised a demand with 1.5% interest rate.
in my view that liability belongs to June 2010.Hence old interest reate (1%) is appicable .
Please suggest me on the above with supporting documents/notifications if any.
19 January 2012
The change in rate took place w e f 1.7.2010
You have paid Tax on 08.07.2010.
It has rightly been charged.
You have paid Tax on 08.07.2010.
It has rightly been charged.
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