Tds interest
This query is : Resolved
21 June 2013
1) Only interest on late payment of TDS (i.e interest on late deposit of TDS)is made for all the 4 quarters.Is there any need of revising TDS return of all the quarters?
2)Interest calculation on TDS of salary,If TDS is deducted for the April month salary i.e deducted on 30 April 2012 and TDS deposited on 12 June 2012.What will be the months calculation and amount of interest?
2)Interest calculation on TDS of salary,If TDS is deducted for the April month salary i.e deducted on 30 April 2012 and TDS deposited on 12 June 2012.What will be the months calculation and amount of interest?
21 June 2013
if you deduct TDS on intt. then you have to revise return.
2) on tds late deposit intt . will be 3 months @ 1.5 per minth = total 4.5% on tds amount.
2) on tds late deposit intt . will be 3 months @ 1.5 per minth = total 4.5% on tds amount.
21 June 2013
its interest on TDS late deposit.
21 June 2013
Yes you need to revise the TDS return by adding new challan through which you paid the interest.
21 June 2013
Is there any section\rule under which return is to be revised?
and what about the late payment of interest ?
and what about the late payment of interest ?
21 June 2013
Is there any section \rule under which it specifies to revise all the quarter returns.
21 June 2013
You have deposited through 1 single challan or 4 separate challans?
21 June 2013
The purpose behind revising the return is that payment made by you will be updated in their records otherwise their record will continue to show outstanding amount. Further if you have deposited the interest after receiving the notice than you can simply write a letter stating that payment has been made enclosing the copy of challan.
21 June 2013
please tell me what should be as per the rule & i have sent 4 different challans..?
24 June 2013
Since you have deposited 4 separate challans. Please revise the return of all 4 quarters including the challan of respection quarter in the revised return. There is no specific rule for this. But this is the way how it is to be done.
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