Tds
This query is : Resolved
Varun Sharma
(Querist)
16 August 2013
If TDS to be deducted on 24.04.2013 while company deduct the same on 26.05.2013 & deposit it on 07.06.2013, what should be the late deduction or late payment interest and for what period.
CMA Ramesh Krishnan
(Expert)
16 August 2013
when you have deducted the tds and not paid in due date then interest will apply @ 1.5% per month or part of the month from the date of tds deducted
When you have deducted late and paid on time from the date of deduction, then tds will apply @ 1% per month or part of the month from the date of TDS deductible
When you have deducted late and paid on time from the date of deduction, then tds will apply @ 1% per month or part of the month from the date of TDS deductible
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