Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2015 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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 February 2015 Interest payable for 4 months @ 1.5% per month works out to 6%. Rs 900 interest is payable.

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2015 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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

21 February 2015 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.

Message likes : 1 times

Rupesh Jain

Rupesh Jain (Expert)
Follow

21 February 2015 intt.calculation as tell by Mr.seetharamn.

Message likes : 1 times

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

Tds

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

CA Final

GST CONSULTANT

Article Assistant

Manager- Finance and Compliance