TDS - Delay payment interest

This query is : Resolved 

24 October 2009 Delay payment of TDS remittence to Govt, what is the rate of interest

24 October 2009 Hi Kesavan,

It is 1% per month or part of the month

24 October 2009 Pl see section 201(1A) of The Income tax Act,1961 for further details.
Visit www.incometaxindia.gov.in

24 October 2009 Simple Interest is @1% per month or part of the month, from the date it becomes deductible till the date of payment.

24 October 2009 Simple Interest is @1% per month or part of the month


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