Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2012
Dear experts,
What are the various interests that can be levied for not deducting tds or not depositing tds after deduction?Whether the assessee will be liable to pay intt. u/s 220(for being assessee in default) as well as simple intt. @ 1% or 1.5% as the case may be?
Please clarify.
thanx in advance
What are the various interests that can be levied for not deducting tds or not depositing tds after deduction?Whether the assessee will be liable to pay intt. u/s 220(for being assessee in default) as well as simple intt. @ 1% or 1.5% as the case may be?
Please clarify.
thanx in advance
10 October 2012
Intt is 1% from the date on when tds is to be deducted and when it is deducted
Intt is @ 1.5% from the due date of paymnet
Exm. : actual tds date is 9-4-12 deducted on 25-5-12 intt @ 1% PM
now due date will be 07-6-12 & paid on 07-07-12, intt will be @ 1.5% PM
Intt is @ 1.5% from the due date of paymnet
Exm. : actual tds date is 9-4-12 deducted on 25-5-12 intt @ 1% PM
now due date will be 07-6-12 & paid on 07-07-12, intt will be @ 1.5% PM
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