Intt on tds

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MOHD ZEESHAN (Querist)
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09 January 2012 Please suggest.
Date of deduction of TDS is 25-Dec-2011
date of Deposit of TDs is 10-Jan-2012

Now the issue is that how many months intt to be deposited ?

As per Income Tax act Intt to be deposited for the period from actual deduction to actual Payment @ 1.5% per month or part of the month. i.e 25-Dec-2011 to 10-Jan -2012.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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09 January 2012 You need to calculate 2 months interest such as Dec-11 one month and Jan-11 one month total 2 months 1.50x 2= 3 % interest as per sec.201(1A)

Nayan Das

Nayan Das (Expert)
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10 January 2012 YOU NEED TO CALCULATE MONTH BECAUSE YOU ARE FAILED ONE DUE DATE SO HOW CAN YOU UNNECESSERY DEPOSIT ONE MONTH EXTRA INTREST ON TDS.

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