TDS

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This discussion addresses TDS liability for March 2020, paid on 30.05.2020. It seeks clarification on how many months should be considered for TDS calculation, specifically mentioning a potential 3-month period at 0.75% per month. The conversation also highlights issues with TDS CPC processing returns and levying interest demands, noting that CPC has now agreed to reprocess returns considering the 31st March 2020 ordinance.

P. SHARMA

P. SHARMA (Querist)
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05 June 2020 TDS Liability for March 2020 has been paid on dt 30.05.2020.

Please inform me, for tds calculation how many month to be considered.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 June 2020 3 months to be considered at 0.75% per month.

PARAS CHHAJED

PARAS CHHAJED

(Expert)
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06 June 2020 TDS CPC has been processing TDS returns and making additional demands for interest by charging interest @18% pa. The matter has been taken up and the CPC has now confirmed that it will reprocess the returns giving effect to 31st March 2020 ordinance.

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