Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2013 Dear Sir,

Intrest on TDS is charge on day basis or month basis.....

09 August 2013 Interest is TDS is for the whole month of part of the month.

So even 1 day of the month is treated as full month.

For eg. TDS required to be deposited by 7th May is deposited on 8th May. Interest will be charged for the full month.

09 August 2013 Agree with expert.

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2013 Thanking You, sir for resolve my query....

09 August 2013 You are welcome. You should use the thanks button to convey your thanks.

09 August 2013 and interest of tds is caluculated "for the period from the date of deduction to date of payment of tds"

so if tds deducted in 01/04/2012 and paid on 08/05/2012 then interest payable is for 2 months at the rate of 1.5% per month

refer section 201(1A)


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