Intt on late deposit of tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2012
Dear All I had deducted TDS on 1st Nov 11 and it is to be deposited on 7th Dec, supoose i deposit the same on 20th Dec then Intt should be payble for 1 month but I/Tax notice is calculating it for 2 months. anybody have any logic behind the same!!!!!!!!!!!!
13 February 2012
Interest will be 2 months. TDS on interest appliable from the date of deduction, so tds deducted Nov-1 and paid dec-20. so November 1 month n december 1 month total 2 months interest need to be paid (interest will be paid month or less then month both as considered as 1 month only) refer section.201
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