Tds
This query is : Resolved
sanjana singh
(Querist)
06 February 2015
When 3% is deducted in interest of tds ?
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
(Querist)
06 February 2015
Then how much Intrest on late payment of TDS is deducted??
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.
(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
(Expert)
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
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
(Expert)
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.
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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