Interest on tds due

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This query is : Resolved

C.A. Sandeep Wawhal (Querist)

24 January 2012 Experts,

I have received default statement from NSDL website. I observe that Amount paid Cr is 6-1-2010 and TDS due date will be 7-2-2010 but paid on 8-02-10 by us then tds will be calculated on one month but tds is calculated 2 months in the default statement.

waiting for reply

Yogesh Agarwal

Yogesh Agarwal (Expert)

24 January 2012 Dear Sandeep

The interest shall be imposed for 2 months only cause as per section 201(1A)simple interest shall be payable at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid..

Since the tax deducted on 06.01.10 and should have been paid on 07.02.2010 but you failed to pay to do so,

So statement received by you is not in default..

Yogesh

CA Deepak S

CA Deepak S (Expert)

24 January 2012 Agree with the expert

C.A. Sandeep Wawhal

C.A. Sandeep Wawhal (Querist)

24 January 2012 sir,

but there is only late by one month, then why system (NSDL) calculated interest for 2 months default. It may be system error ?

C.A. Sandeep Wawhal

C.A. Sandeep Wawhal (Querist)

24 January 2012 sir,

but there is only late by one month, then why system (NSDL) calculated interest for 2 months default. It may be system error ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

24 January 2012 Tax Was deducted on 6-1-2012
Tax has been deposited on 8-2-2012
Every month or part of the month means...
From 6-1-2012 to 31-1-2012.(Part of a month)
and from 01-2-2012 to 08-2-2012.(Part of a month)
.
It will be calculated as 2 months.
Message: Take care next time.

C.A. Sandeep Wawhal

C.A. Sandeep Wawhal (Querist)

25 January 2012 thanks sir

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