Tds

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sanjana singh

sanjana singh (Querist)
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06 February 2015 When 3% is deducted in interest of tds ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 February 2015 there is no 3% deduction of interest on tds under present provisions of income tax act

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sanjana singh

sanjana singh (Querist)
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06 February 2015 Then how much Intrest on late payment of TDS is deducted??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 February 2015 (i) at 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted;

(ii) at 1.5% for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.

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Manish Thakkar

Manish Thakkar (Expert)
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06 February 2015 Two situations :

1. TDS deductable, but not deducted than 1.00 % par month and part thereof

2. TDS deducted, but not paid than 1.5 % par month and part thereof

Rupesh Jain

Rupesh Jain (Expert)
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06 February 2015 INTT WILL BE CHARGE

IF YOU NOT DEDUCTED BUT TDS TO BE DEDUCTED THEN 1% OF TDS AMOUNT TILL YOU NOT DEDUCT THE TDS.

@1.5 IF AFTER DEDUCTION YOU NOT DEPSOIT THE TDS.

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