Tds

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2015 Hello,

I have paid the tds with department on 2nd May 2015 for31st March 2015 (Only 31st March). The last date to pay the tds was 30the April 2015 for the tds of 31st march 2015. Now I realized that I have made the late payment. How to calculate the Interest on late payment.

Pls explain with example, if possible


06 May 2015 march april and may. three months interst wil b charged @ 1.5 %

06 May 2015 Interest on late deposit of TDS is calculated @ 1.5% per calender month. So even for 1 day of a month you will have to pay 1 month interest. So in case of delay you have to pay minimum 3% interest.

Here in your case you need to pay interest for three months (March, April & May)i.e., 4.5% of the TDS amount.

07 May 2015 I Agree with both the experts. You'll be charged 1.5% interest for 3 months. ( since section says month or part of month thereof )

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2015 Thank you ..all of you

20 May 2015 Please click on the thank user button for your appreciation


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