Short Deduction of TDS
This query is : Resolved
Shiv om Jindal
(Querist)
14 June 2008
If a person has short deducted the TDS, but has paid the TDS that was short deducted but again the interest was not applied properly, which is required the calculate @ 1% p.m. or part thereof for the period of delay. How shall we treat the short payment of Interest in this case.
Shyam Lal Naik
(Expert)
17 June 2008
You may pay the interest now. Interest can be calculated till the date of payment of short TDS. The amount not being significant can be accounted on cash basis.
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