TDS

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 February 2010 I have not deducted the TDS on contract like security A/c (security graud)monthly payment to security agency Rs. 32353 for the month of Oct, Nov, Dec.and now I want to deposit the whole TDS (including the jan month on 5th Feb.2010. How much interst I hve to pay at what rate and what amount I should pay.
Sol. Is my answere is correct
Amount =32353 TDS OCT= 32353*2.06%=667
Nov= 667
Dec= 667
Total 2001

Interset 1% 20
Jan TDS 667
===============
Total 2687
=================

04 February 2010 Your answer is perfectly correct for Nov & Dec TDS But you forgotten to add Oct tds interest, interest on TDS is 1 % per month or part of the month so

667 2 13.34
667 1 6.67
667 OCT 3 20.01
Total Interest 40.00

Jan TDS no interest


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Querist : Anonymous

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Querist : Anonymous (Querist)
04 February 2010 what happen ed if TDS not paid for four month what interest rate should be charged

04 February 2010 E.Cess No need to deduct from 1.10.2009

05 February 2010 dear ramesh, as per my knowledge surcharge only waived off from 01.10.2009. cess is still continuing. please clarify my doubt pls.

05 February 2010 Yes.Agree surcharge is waived, E.cess continue but TDS rates are excluding the e.cess .I am sure


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