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Interest on TDS Deposit late

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(Querist)
02 March 2010 Tax was deducted on 30 Dec 2009 and the e-payment was made on on 2 feb 2010.
should the interest be charged for one month or two?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
02 March 2010 Dear Mr. Gupta

Interest on late deposit of TDS should be charged for 2 months.

For TDS deducted on 30th Dec. due date for deposit of TDS is 7th of Jan. If TDS is deposited after 7th Jan upto 31st Jan interest will be charged for 1 month but if deposited in Feb TDS will be charged for 2 months.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
02 March 2010 1 month only actual due is 7th Jan you paid 2nd Feb with in 1 month so 1%




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