Regarding tds interest
This query is : Resolved
10 April 2015
Dear Expert,
I got the Bill from Consultant amount of Rs. 50000 dated 25/09/2014...
If I pay the TDS on Professional Service of Rs. 5000 dated 10/10/2014 instead of 07/10/2014, then I am liable to pay Interest also,,but I m confused that am I liable to pay for 3 Days or 2 months(Sep & Oct) ?
Thanks
I got the Bill from Consultant amount of Rs. 50000 dated 25/09/2014...
If I pay the TDS on Professional Service of Rs. 5000 dated 10/10/2014 instead of 07/10/2014, then I am liable to pay Interest also,,but I m confused that am I liable to pay for 3 Days or 2 months(Sep & Oct) ?
Thanks
11 April 2015
You are liable to pay interest for 2 months. Such is the provision of section 201(1A) that even for a days delay you will have to pay interest for 2 months.
Also check out the article from below link in this regard:
https://taxguru.in/income-tax/delay-payment-tds-day-interest-chargeability-3-injustice-assessee.html
Also check out the article from below link in this regard:
https://taxguru.in/income-tax/delay-payment-tds-day-interest-chargeability-3-injustice-assessee.html
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14 April 2015
thanks sir, one more question..
My unsecured loan amt is Rs. 500000 on 31/05/14, now i pay 250000 dated 21/08/14 & difference amt pay as 250000 dated 28/02/15, now i m liable to deduct tds amt on interest but confused that am i liable to deduct tds on 28/02/15 (single) or 31/05/14 & 28/02/15 (2 times)?
My unsecured loan amt is Rs. 500000 on 31/05/14, now i pay 250000 dated 21/08/14 & difference amt pay as 250000 dated 28/02/15, now i m liable to deduct tds amt on interest but confused that am i liable to deduct tds on 28/02/15 (single) or 31/05/14 & 28/02/15 (2 times)?
19 April 2015
You are liable to deduct the no of times you make payment or credit entry of TDS.
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28 April 2015
Dear Expert,
my mother having income of commission from lic, now i want to ask which itr form to be filed to get refund?
my mother having income of commission from lic, now i want to ask which itr form to be filed to get refund?
28 April 2015
ITR4 needs to filed for Commission Income.
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