matter of sale tax int & panelty

This query is : Resolved

Guest

Guest (Querist)

22 November 2010 good morning to all expert,
plz tell me my sale tax return for the month of sep"2010 is 989111 than plz tell me i am late to deposit it 9 days .now plz tell me will i paid int. or panelty or both paid
regards
raju

Hitender Gaur

Hitender Gaur (Expert)
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23 November 2010 if you have deposited tax timely then no need to pay any interest otherwise calculate the interest @ 1% p.month along with delay panelty of Rs. 100.00 per day (Rs. 900.00 for nine days) and deposit the both int. & panelty.

Guest

Guest (Querist)

25 November 2010 thanks sir ,
but sir int. rate is 1.25% not 1%

Hitender Gaur

Hitender Gaur (Expert)
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25 November 2010 Tax Amount x Nos. of Days for delay x 16%
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365

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