I just want to ask that interest u/s 220(2) on which amount will be paid? Either on late payment amount of TDS or short deduction amount of TDS or Late filling of TDS or in all of above?
But sir in a case before me I saw in a justification report downloaded from the TRACES that the interest u/s 220(2) is charged only on late payment and late filling amount not on short deduction amount.
Please clarify in this regard or if there is any notification?
CAclubindia
