Tds
This query is : Resolved
Nikunj Savla
(Querist)
28 November 2014
If advance payment of Rs.500000/- made in May'14 & on which TDS is to be Deductible @ 10% & no TDS has been deducted & the same has been deducted in the month of Nov'14 then how much amount of interest liability arises?
Rupesh Jain
(Expert)
28 November 2014
for may tds deposit date 7.6.2014 you have to pay the intt from the date of deduction to deposit @ 1.5% per month intt.
7 month x 1.5% per month = 10.5% intt on tds amount
7 month x 1.5% per month = 10.5% intt on tds amount
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