Interest on TDS late deposit
This query is : Resolved
CA Sahil Singla..
(Querist)
16 April 2011
My client took a loan from a Financila Institution in April 2010. IT continoulsy paid monthly interest for that till march 2011. But it dedcuted TDS on whole of the Interest at the year end 31.03.2011 & remit the same on 10.04.2011.
Plz tell me if he has to deposit Intt. on late deposit as well as late deduction from April 2010 to Feb 2011 ?
Plz tell me if he has to deposit Intt. on late deposit as well as late deduction from April 2010 to Feb 2011 ?
16 April 2011
better to go for late deduction and pay interest accordingly you need not to pay interest on the same as late deduction as well as late payment of interest .
It will reduce you interest amount to an extend .
Thanks
It will reduce you interest amount to an extend .
Thanks
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