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Notice of tds

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(Querist)
26 April 2012 SIR,
I WANT TO KNOW ON WHAT BASIS DEMAND NOTCES OF TDS ARE RAISED. WHAT IS THE BASIS OF THEIR INTEREST CALCULATION.
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ASHWANI VASHIST

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ASHWANI VASHIST (Expert)
28 April 2012 Demand Notice can be issued in following default.
1.Non deposit of tds within prescribed time limits
2.Short payment of TDS Deposit e.g interest short deposit etc.
Interest shall be charged on late deduction of TDS and late deposit of TDS.
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chandni

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chandni (Querist)
29 April 2012 THANKS SIR, BUT WHAT IS THEIR METHOD OF INTEREST CALCULATION?
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ASHWANI VASHIST

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ASHWANI VASHIST (Expert)
30 April 2012 Interest Shall be calculated on monthly basis Interest rates of TDS given below

1.18% P.A for late deposit of TDS
2.12% P.A for late deduction of Tds
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chandni

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chandni (Querist)
30 April 2012 thanx...
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