Tds
This query is : Resolved
Naresh Kumar
(Querist)
07 March 2012
when a person deduct tds in dec.2011
& deposited the tds on march 7,2012.
then what is the interest rate and for what period interest is calculated
whether interest period is dec. to march i.e. 4 months
OR
whether interest period is january to march
i.e.3 months
& deposited the tds on march 7,2012.
then what is the interest rate and for what period interest is calculated
whether interest period is dec. to march i.e. 4 months
OR
whether interest period is january to march
i.e.3 months
CA PARAS BAFNA
(Expert)
07 March 2012
In case of late payment interest has to be calculated from the date of deduction.
.
So Interest of 4 months is required to be paid.
.
Rate of interest is 1.5% p.m.
.
So Interest of 4 months is required to be paid.
.
Rate of interest is 1.5% p.m.
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