Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2013
Dear sir,
We had delayed remittance of TDS, filing of TDS returns relating to first quarter of 2013-14.We remitted the same in august 2013 & filed TDS returns.However,calculation of the interest on late remittance was done wrongly by us. there was shortfall due to wrong interpretation of section on interest. We have received a demand notice for the shortfall of interest & Penalty U/S 234e from the dept. Now my question is, are we liable to pay interest on the amount as demanded by the department from the date of notice till the date of actual payment. If so what is the rate 1% or 15%?.
We had delayed remittance of TDS, filing of TDS returns relating to first quarter of 2013-14.We remitted the same in august 2013 & filed TDS returns.However,calculation of the interest on late remittance was done wrongly by us. there was shortfall due to wrong interpretation of section on interest. We have received a demand notice for the shortfall of interest & Penalty U/S 234e from the dept. Now my question is, are we liable to pay interest on the amount as demanded by the department from the date of notice till the date of actual payment. If so what is the rate 1% or 15%?.
16 September 2013
the rate will be 1.5%.
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