Late Deduction of TDS

This query is : Resolved

BAIJU KUMAR ROY (Querist)
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26 November 2019 We were suppose to deduct TDS on Brokerage on 30.04.2019 on 50000.00 which we missed and is deducted on 24.11.2019 @5% 2500.00 and has paid also on the same day 24.11.2019 along-with 1% interest for 8 months from April to November 2019 for late deduction (2500+(2500*1%*8))=2700.00. In the TDS Challan the Tax shown 2500 & interest shown 200.
In 3rd Qly return we think this could be shown like below:
Date of Payment/Credited=30.04.2019
Date of TDS Deduction = 24.11.2019
Date of Tax Deposit =24.11.2019
Amount of Tax=2500

We want to know whether it would be correct exercise or we still making mistake.
Please suggest.

Gokul Sharma

Gokul Sharma (Expert)
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26 November 2019 int rate should be consider 1.5℅ for above

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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26 May 2020 The rate of interest for late deduction of TDS is 1% per month.

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