Late deposit of tds
This query is : Resolved
24 March 2012
Dear sir,
We have deducted Rs. 803 as TDS on 27-08-2011 but deposited it on 08-10-2011.
Now want to know the amount of interest on it also suggest the formula of calculating it?
We have deducted Rs. 803 as TDS on 27-08-2011 but deposited it on 08-10-2011.
Now want to know the amount of interest on it also suggest the formula of calculating it?
24 March 2012
27/08/2011 to 31/08/2011 = 1 month.
01/09/2011 to 30/09/2011 = 1 month.
01/10/2011 to 08/10/2011 = 1 month.
Interest is 803 X 1.5 / 100 X 3/12 = Rs.3/-
01/09/2011 to 30/09/2011 = 1 month.
01/10/2011 to 08/10/2011 = 1 month.
Interest is 803 X 1.5 / 100 X 3/12 = Rs.3/-
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