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

GN Patankar

GN Patankar (Expert)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MAYANK

CA.Pinank Arvindbhai Shah

prakash takane

Vijay Singh

ashok jain

Subscribe Now

Tds

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

Senior Executive

CA Final

GST CONSULTANT

Accountant