TAX DEDUCTED AT SOURCE
This query is : Resolved
24 September 2008
what would be the rate of interest applicable if in case there is default in tax deposition.There is rule that the tax deducted has to be deposited in the a/c of gov.upto seventh date of the month following the month in which it is deducted.So if I haven't deposited/deducted tds for april,may,june,july and august,how the interest amt will be calculated.
24 September 2008
Interest is to be calculated @1% for the delay of each month or part thereof u/s 201 (1A) on the amount of tax deducted.
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