Interest rate on short deduction on tds
This query is : Resolved
30 January 2014
Dear all,
what is rate of interest applicable on INTEREST ON SHORT DEDUCTION ON TDS through Income tax Department..Bcoz In the notice it is mentioned short Deduction Rs-297652 & Interest on Short Deduction is Rs:- 24569 in IInd Quarter of 13-14.. short Deduction is calculated in Jurisdiction report but calculation of Interest on Short Deduction is not mentioned.
Its Urgent......PLZZ
what is rate of interest applicable on INTEREST ON SHORT DEDUCTION ON TDS through Income tax Department..Bcoz In the notice it is mentioned short Deduction Rs-297652 & Interest on Short Deduction is Rs:- 24569 in IInd Quarter of 13-14.. short Deduction is calculated in Jurisdiction report but calculation of Interest on Short Deduction is not mentioned.
Its Urgent......PLZZ
30 January 2014
Hi
Int is calculated @ 1% for short amount paid from the date it should be deducted till date of issue if notice.
Also full month int. to be calculate for part of the month.
Thx
Int is calculated @ 1% for short amount paid from the date it should be deducted till date of issue if notice.
Also full month int. to be calculate for part of the month.
Thx
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