Tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 January 2014
If date of payment of interest is 30th april 2013 & TDS is deducted on 6th July 2013 then interest will be paid for 3 months or for 4 months.
motichand gupta
(Expert)
15 January 2014
The due date for making payment is 7th of next month under Chapter XVIIB.
If TDS is deducted late ie beyond 7th then Sec 201 get attrected and under Sec 201(1A)(i)at 1% interest is levied for a month or part of a month.
Therefore on Interest paid on 30th April 2013, the due date was 7th May 2013 and if he failed on this then default will be May 2013, June 2013 and July 2013. Therefore interest will be for 3 months at 1% interest. (assumed that TDS deducted on 6th July 2013 and deposited on 7th of July or before 31st July 2013)
If TDS is deducted late ie beyond 7th then Sec 201 get attrected and under Sec 201(1A)(i)at 1% interest is levied for a month or part of a month.
Therefore on Interest paid on 30th April 2013, the due date was 7th May 2013 and if he failed on this then default will be May 2013, June 2013 and July 2013. Therefore interest will be for 3 months at 1% interest. (assumed that TDS deducted on 6th July 2013 and deposited on 7th of July or before 31st July 2013)
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
