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Tds

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(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?
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Rupesh Jain

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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
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