Interest on tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2012
Dear Sir,
In f.y.2010-11, tax auditor disaallowed rs.1 crore for non deduction of tds. and nw before 31st march we have to pay tds.
We are deducting TDS on 31.03.2011 and also paying tax on the same date. nw i m confused at which rate i have to pay tds. 1% or 1.5 %.
pl reply its urhgent.
In f.y.2010-11, tax auditor disaallowed rs.1 crore for non deduction of tds. and nw before 31st march we have to pay tds.
We are deducting TDS on 31.03.2011 and also paying tax on the same date. nw i m confused at which rate i have to pay tds. 1% or 1.5 %.
pl reply its urhgent.
24 March 2012
1% would suffice in the cited issue. Please note that 1.5% is applicable only when remittance is delayed after deduction.
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