Penalty and interest section for non-payment of tds
This query is : Resolved
25 February 2014
Dear Experts,
Pls tell me which is the section for penalty and interest for non-payment of TDS within the alloted time limit. Also tell me the % of interest or penalty. How it has to be calculated?
Thanks & Regards,
Rajesh
Pls tell me which is the section for penalty and interest for non-payment of TDS within the alloted time limit. Also tell me the % of interest or penalty. How it has to be calculated?
Thanks & Regards,
Rajesh
25 February 2014
If TDS is not deposited timely then interest @ 1.5% per month or part thereof is to be paid from the date of deduction to the date of deposit. [Section 201(1A)]
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