Interest tds

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2015 I have not deposit the TDS Rent from oct.

1/10/14--48000--4800/-
1/11/14--48000-4800/-
1/12/14--48000-4800/-
but I have pay the rent after TDS to land lord
on 07/01/2015 I have to deposit the TDS becz return to done,
my query is kindly inform me what will be the interest on OCT+NOV+DEC sepratly

thank u

Mohit Singla

Mohit Singla (Expert)

08 January 2015 the interest will be computed as under
Oct - 4800*1.5*4
Nov - 4800*1.5*3
Dec - 4800*1.5*2
Total amount of interest is rs. 648

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2015 Mohit Sir, suppose I have to deposit on 06/01/2015 then what will be the no. of month to calculate I just want to understand the counting the days on which intt.calaculation

Mohit Singla

Mohit Singla (Expert)

08 January 2015 You have to consider A full month and also the part of the month as per the text provided in section 201 (1A) of IT Act 1956
Oct, nov, & dec full month
Jan part of the month
hence total number of Month would be four

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