Tds interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2012
Sir my TDS Payable for the m/o March,2012
was Rs. 85000/- i deposit the TDS in bank 06 June,2012 but interest due so tell me Interest amount with calculation.
Thanking you
was Rs. 85000/- i deposit the TDS in bank 06 June,2012 but interest due so tell me Interest amount with calculation.
Thanking you
CA Navin Jain
(Expert)
09 June 2012
if tds deducted on 31.03.2012 then pay interest of 3 months and if deducted before 31.03.2012 the pay interest of 4 months
Rate of Interest is @1.5% per month.
Rate of Interest is @1.5% per month.
C.A Anshul Singhal
(Expert)
09 June 2012
Interest On Late Depoisted Of Tds is 1.5% per month or part of month
March Tds Should be deposited 30 April According to new amendment by department.
tds late depoisted period 1 may to 6 june =2month
Interest on tds = 85000*1.5%*2=Rs 2550
March Tds Should be deposited 30 April According to new amendment by department.
tds late depoisted period 1 may to 6 june =2month
Interest on tds = 85000*1.5%*2=Rs 2550
C.A Anshul Singhal
(Expert)
09 June 2012
according to new amendment tds depoisted date are changed.
new tds depoisted date are given below
April To Feb = 7 Day Of Next month
March = 30 April Of Next Year
new tds depoisted date are given below
April To Feb = 7 Day Of Next month
March = 30 April Of Next Year
CA Navin Jain
(Expert)
09 June 2012
@ ANSUL, If tds is not deposited by due date the benefit of the due date is not given to assesee while calculating of interest. see sec 201
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