Non payment of tds
This query is : Resolved
pallavi gupta
(Querist)
05 September 2011
hello sir/mam'
one of my client has paid advertisement exp. of rs. 101250.00 in sep. 15 2010 without deducting tax.
now how much amt of TDS along with interest and penalty is payable by him...
plz show me the calculation also....
one of my client has paid advertisement exp. of rs. 101250.00 in sep. 15 2010 without deducting tax.
now how much amt of TDS along with interest and penalty is payable by him...
plz show me the calculation also....
05 September 2011
Tds on advertisement contract is 1% if paid to individual / HUF and 2% if Paid to Others
Interest to be Paid :
1% for non deduction per month
1.5% for non payment of TDS per month
e.g .if it is paid to Individual then
TDS is Rs. 101250.00 * 1% = 1012.50
Interest is 1012.50*1%*11 months = 111
+ 1012.50*1.5%*11 months = 167
Total 1012.50+111+167 = 1290.50
Interest to be Paid :
1% for non deduction per month
1.5% for non payment of TDS per month
e.g .if it is paid to Individual then
TDS is Rs. 101250.00 * 1% = 1012.50
Interest is 1012.50*1%*11 months = 111
+ 1012.50*1.5%*11 months = 167
Total 1012.50+111+167 = 1290.50
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