Tds
This query is : Resolved
09 October 2014
hello experts..
i have one query..
if an assessee pays rent in month of july for april to june & deducts tds in july itself but does not pay to income tax dept then how the interest on late payment should be deducted?? i mean for how many months and at what rate?? interest shall be calculated from march month on accrual basis or from july on payment basis?? plz rly fast its urgent.
n thnx in advance
Nikhil Kaushik
(Expert)
10 October 2014
from each month of TDS deduction due to date of deduction, interest at 1% per month or part of the month...from date of deduction to the date the tax is finally deposited with the tax authorities, interest at 1.5% p.m for each month or part of the month.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- 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
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
