TDS

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gauri gupta (Querist)
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06 July 2011 My company has not paid TDS on Rent since April 2011.i want to deposit it on 7th July, 2011.Now pls tell me interest of how many months should be calculated, is it 2 months or 3 months.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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06 July 2011 assuming rent accrues on the first day of the month
arpil - 3 months interest * 1.5% = 4.5%
May - 2 months interest * 1.5% = 3%

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gauri gupta

gauri gupta (Querist)
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06 July 2011 Thanks a lot, bt I think rate of interest on TDS is 1%,is it right

Aditya Maheshwari

Aditya Maheshwari (Expert)
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08 July 2011 no. if there is delay in tax deduction then rate is 1% and if there is delay in payment after deduction then 1.5%.

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