Tds

This query is : Resolved

Vishal (Querist)
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13 July 2015 Dear Sir,

I want to know that
If Bill Date is 25-12-2014
& TDS on that Bill is 2250/-
& if we are paying it on 13-07-2015
then interest would be calculated for how many months ?
& what will be the Interest Amt. ?

Ankur Singhal

Ankur Singhal (Expert)
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13 July 2015 When TDS is not deducted
Interest at the rate of 1% per month or part thereof, for the period from the date on which TDS is deductible/collectible to the date on which TDS/TCS is actually deducted/collected.

When TDS is deducted but not paid
Interest at the rate of 1.5% per month or part thereof, for the period from the date on which TDS is actually deducted/collected to the date on which such TDS/TCS is actually paid.

Interest will be calculated for 8 months.
Now check both the case for the applicability of interest rate.

CMA Gul S

CMA Gul S (Expert)
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13 July 2015 please check this for more details

https://blog.tdsman.com/2013/04/penalty-on-non-deduction-late-deduction-and-late-deposit-of-tds/

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