Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2012 TDS has to be deducted on 05/05/2011
Tds was deducted on 01/06/2011
Last date of deposite of tds ........
And Liability of interest if tds was deposited on 07/07/2011 i.e,...month*....Rate

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 January 2012 In the given case--

Due date of payment of TDS will be 07/06/11

Interest need not be paid if TDS deposited within 07/06/11.

If paid on 07/07/2011---then pay interest for three months. 2months @1.5% + 1 month @1%.

05/05/11 to 01/06/11 -i month @1% (for late deduction).

01/06/11 to 01/07/11 - 1 month @1.5%
+
01/07/11 to 07/07/11 - 1 month @1.5%

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