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Late Payment itnerest rate on TDS

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(Querist)
23 April 2008 if i m late to pay my TDS and now i want to pay then how i calculate my interest amount. what is the interest rate.

suppose last date of payment is 7th of next month and payment made on 12th of same month and payable is Rs.5000 then the interest paid on that is Rs.416.67 (roundoff 417)
i am right
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
23 April 2008 interest rate is 1% from the end of the month and int is paid whole month if payment is late by one day
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R.V.RAO

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R.V.RAO (Expert)
23 April 2008 SIMPLE INT.@1% P.M FROM THE DATE TDS IS DEDUCTIBLE TILL DATE ON WHICH IT IS ACTUALLY PAID.
ASSUME TDS IS DEDUCTIBLE ON 15 TH. APRIL AND IT IS ACTUALLY DEPOSITED ON 12 TH MAY .
SIMPLE INT @1%P.M ON TAX OF RS. 5000 IS RS. 50/
R.V.RAO
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
24 April 2008 1% per month
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