TDS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2010
Please explain
1.Intrest rate on late payment of TDS in Case of Payee is Individual
2.if we forget deduct TDS at the time of payment
1.Intrest rate on late payment of TDS in Case of Payee is Individual
2.if we forget deduct TDS at the time of payment
Ajay Mishra
(Expert)
11 October 2010
Hi
If a person fails to pay any tax required to be deducted at source, he shall be liable to pay interest at the rate of 1% (of tax remaining unpaid) per month or part of the month during which the tax remain unpaid.
Regards
If a person fails to pay any tax required to be deducted at source, he shall be liable to pay interest at the rate of 1% (of tax remaining unpaid) per month or part of the month during which the tax remain unpaid.
Regards
Ajay Mishra
(Expert)
11 October 2010
Hi
An Individual paying interest is not required to deducted tax at source.
Regards
An Individual paying interest is not required to deducted tax at source.
Regards
CA Navin Jain
(Expert)
11 October 2010
interest rate is 1.5% per month from 01.07.2010
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