Tds

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Querist : Anonymous

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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

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

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Querist : Anonymous

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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

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.

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


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