Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 IF TDS DEDUCTED ON 31-MAR-2012 AND TAX DEPOSITED ON 16-AUG-2012 THAN PLEASE CALCULATE THE INTEREST ON LATE PAYMENT OF TDS.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 September 2013 Interest to be paid for 5 months @ 1.5% per month i.e., 7.5% of the TDS amount.

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2013 BUT INCOME TAX DEPARTMENT RAISED THE DEMAND FOR INTEREST FOR 6 MONTHS @1.5% PLEASE HELP ME WHAT I DO.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 September 2013 Write a letter in reply to the demand notice and make your point that the delay is less than 5 months and therefore interest need to be paid for 5 months and not 6 months. Meet your TDS AO along with the letter.

Ganeshbabu K

Ganeshbabu K (Expert)
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16 September 2013 if dates given you is correct it is correct that 5 months interest under section 201(1A)

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