Tds calculation
This query is : Resolved
15 February 2014
Dear sir
We have received the TDS notice in which department showing that we have to pay interest on form 24Q Rs. 18355/- while as per our calculation we have deposited the Rs. 10810.00 as per due date .
Pls provide us the excel sheet in which it showing that how they calculate the Interest in notice.
We have received the TDS notice in which department showing that we have to pay interest on form 24Q Rs. 18355/- while as per our calculation we have deposited the Rs. 10810.00 as per due date .
Pls provide us the excel sheet in which it showing that how they calculate the Interest in notice.
16 February 2014
Hi
while calculating no. of month defaults you have to consider both the month,, hence you would have paid one month lesser interest.
Thx
while calculating no. of month defaults you have to consider both the month,, hence you would have paid one month lesser interest.
Thx
svraghunath
(Expert)
16 February 2014
Hi Rakesh
explaining by example, april tds to be paid on or before may 7th. for eg if you have paid on 8th may. interest to be calculated @1.5% per month, in this example interest to paid for 2 months.
refer Sec 200 and 201 of income tax act
explaining by example, april tds to be paid on or before may 7th. for eg if you have paid on 8th may. interest to be calculated @1.5% per month, in this example interest to paid for 2 months.
refer Sec 200 and 201 of income tax act
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