Tds
This query is : Resolved
06 January 2013
If u make payment to sub contractors without deducting tds and after some 3 months if u want to remit tds to govt. What % of interest rate is applicable and from which date is it applicable i.e, from date of payment to sub-contractors or from the date when u pass an entry deducting tds in tally?
06 January 2013
Hey Hi,
Interest from 01.07.2010
For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)
Thanks!!
Interest from 01.07.2010
For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)
Thanks!!
06 January 2013
@Vaibhav
your right except interest for late deposit of TDS after deduction
the rate of interest @1.5% from the date of amount paid to party/book entry to actual date of payment
Srinivas Reddy
your right except interest for late deposit of TDS after deduction
the rate of interest @1.5% from the date of amount paid to party/book entry to actual date of payment
Srinivas Reddy
15 January 2013
Yes I agree with the experts
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Missed TDS
- IT returns for fresh job holders
- F&O reporting in ITR
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
