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
What is intrest on late payment of TDS.
Please confirm me
CA PARAS BAFNA
(Expert)
27 May 2011
Interest rate is 1.5% per month or part of the month.
VISHAL SHAH
(Expert)
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.
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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