Tds
This query is : Resolved
13 May 2015
sir
iam sub contractor i am not paid tds of ay 2014-15 but i want to pay it now then how calculate interest on late payment ....
plz help with example ........
iam sub contractor i am not paid tds of ay 2014-15 but i want to pay it now then how calculate interest on late payment ....
plz help with example ........
13 May 2015
You need to pay interest on late deposit of TDS @1.5% per calender month from the month of deduction till month of payment.
Say TDS deducted in April 2014 and deposited in April 2015 then you need to pay interest for 13 months @1.5% per month.
Say TDS deducted in April 2014 and deposited in April 2015 then you need to pay interest for 13 months @1.5% per month.
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