INTERST ON LATE PAYMENT OF TDS ON REMUNERATION
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2010
Dear Sir/Madam,
Please tell me how to calculate Interest for late payment of TDS on Remuneration.
Details for your Information.
For the year 2009-10
14.04.2009 Paid Rs.1,00,000/- on Account
28.01.2010 Paid Rs.3,00,000/- on Account
15.03.2010 Paid Rs.50,000/- TO DIRECTOR FOR HIS personal Advance tax (It adjust in remuneration)
So, Now We have decided to pay remuneration (09-10) to DIRECTOR Rs.5,17,400/-
How I can calculate Interest for Late paid TDS on remuneration.
Please tell me how to calculate Interest for late payment of TDS on Remuneration.
Details for your Information.
For the year 2009-10
14.04.2009 Paid Rs.1,00,000/- on Account
28.01.2010 Paid Rs.3,00,000/- on Account
15.03.2010 Paid Rs.50,000/- TO DIRECTOR FOR HIS personal Advance tax (It adjust in remuneration)
So, Now We have decided to pay remuneration (09-10) to DIRECTOR Rs.5,17,400/-
How I can calculate Interest for Late paid TDS on remuneration.
20 September 2010
Interest need to be calculte from the date of TDS deductible (which is remuneration payable) to the date of payament
Rate of Intetrest- 1% P.M.up to 30.6.2010
-1.5.% P.M. from 1.7.2010
Rate of Intetrest- 1% P.M.up to 30.6.2010
-1.5.% P.M. from 1.7.2010
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