Tds
This query is : Resolved
26 April 2012
IS INTEREST @1%ON LATE DEDUCTION OF TDS IS APPLICABLE TO SECTION192B?
OUR CLIENT HAS SHORT DEDUCTED TDS ON SALARY DURING THE YEAR BUT IN THE MONTH OF MARCH THEY HAVE DEDUCTED THE SHORTFALL AMOUNT AND DEPOSITED TO GOVERNMENT. HOWEVER INTEREST @1% HAS NOT BEEN PAID BY THEM. MY QUERY IS WHETHER THEY ARE LIABLE TO INTEREST @1%?
OUR CLIENT HAS SHORT DEDUCTED TDS ON SALARY DURING THE YEAR BUT IN THE MONTH OF MARCH THEY HAVE DEDUCTED THE SHORTFALL AMOUNT AND DEPOSITED TO GOVERNMENT. HOWEVER INTEREST @1% HAS NOT BEEN PAID BY THEM. MY QUERY IS WHETHER THEY ARE LIABLE TO INTEREST @1%?
Guest
Guest
(Expert)
26 April 2012
It so happens that employee may have given declaration at the beginning of year but dont submit the proof, then employer deducts the tax in the last month of year.
I dont think the liability for interest arises..
I dont think the liability for interest arises..
Murtaza I Bhagat
(Expert)
26 April 2012
if its deducted in march then due date for deposit tds is 30 April
So, no interest liability arise as per expert opinion
So, no interest liability arise as per expert opinion
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