CA Loan Bajaj Finserv
CA Final Online Classes
CA Loan Bajaj Finserv

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Tds

This query is : Resolved 

Querist : Anonymous


Querist : Anonymous (Querist)
Can anybody calculate the TDS interest liability for this:
TDS amount: INR 15000
Date of Deduction of TDS: 17/11/2014
Date of Deposit of TDS : 4/02/2015

Interest payable for 4 months @ 1.5% per month works out to 6%. Rs 900 interest is payable.

Querist : Anonymous


Querist : Anonymous (Querist)
Dear Sir,

As per Law ,interest at 1.5% for every month or part of month on the amt. of such tax from the date on which such tax was deducted to the date on which such tax is actually paid
Thus we have deducted tds on 17/11/2014
and paid on 04/02/2015, the interest will be calculated as follows:
17/11/2014-16/12/2014
17/12/2014-16/01/2015
17/01/2015-04/02/2015
hence of 3 month

The above calculation is not correct. It should be like this.
17/11/14- 30/11/14 1 month
01/12/14 - 31/12/14 1 month
01/1/15- 31/1/15 1 month
01/2/15- 04/2/15 1 month.

intt.calculation as tell by Mr.seetharamn.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries






Trending Tags