Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Tds

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2012 If tds deducted 10% instead of 20% in FY 2010-11, then tds interest for short deduction of tds is considered 1% or 1.5% because this 10% related to april 2010, at this time tds interest rate is 1%.and also books entry is 10% tds deducted If now i pay 10% now how i can calculate interest rate bcz this entry related to before july 2010.

Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

24 February 2012 Interest on delayed payment of TDS 1.50% per month or part of the month apply only you deducted TDS and not paid to Govt with in due date.
but this case you are not deducted 10% balance, now only deducting so you can pay only 1% per month interest

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now