Late Payment of TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2011 I am a Deductor, I have deduct TDS in intrest in month of Sep'2009, Oct'2009, Nov'2009, Dec'2009, & Jan'2010 but i have not paid thees TDS amount i timely i have paid theed TDS in Month of June' 2010

What is intrest on late payment of TDS.

Please confirm me

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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27 May 2011 Interest rate is 1.5% per month or part of the month.

VISHAL SHAH

VISHAL SHAH (Expert)
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27 May 2011 as per section 201(1A) of it act, if TDS is deducted but not paid, than interest @1.5% per month or part of the month is payable.

but if TDS is not deducted than interest is payable @1% form the date of tax deductible to date of tax deducted.

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