Tds

This query is : Resolved

Naresh Kumar (Querist)
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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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

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