Re. section 201 (1a) interest - urgent
This query is : Resolved
28 January 2015
Since the 195 section is amended vide CBDT Circular 2/2014 regarding deduction of Tax at source for payments to non-residents as time of credit or payment, whichever is earlier, One of our clients unaware of this deducted tax on 31.12.2014 (i.e the date of credit to party) but remitted the same only on 22.01.2015 (i.e the date of payment to non-resident.)
My doubt is whether Section 201 (1A) interest would be applicable for 1 month or 2 months?
Also please cite any court judgements on a similar case??
My doubt is whether Section 201 (1A) interest would be applicable for 1 month or 2 months?
Also please cite any court judgements on a similar case??
28 January 2015
As per section 201(1a) Interest on late deposit of TDS is calculated from the date of deduction to the date of deposit @ 1.5% per month.
So Interest would be applicable for 2 Months.
So Interest would be applicable for 2 Months.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
