Tds interest

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PURVI (Querist)
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01 January 2013 DEAR SIR,

I HAVE DEDUCTED TDS U/S 194C ON 30/09/2010 BUT DEPOSITED IT ON 05/10/2011,THEN TDS INTEREST SHOULD I CALCULATE FOR HOWMANY MONTHS?

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 January 2013 Interest on late deposit of TDS should be calculated for 13 months.

PURVI

PURVI (Querist)
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01 January 2013 BUT WHY 13 MONTHS? NOT 14 MONTHS? FROM 30/09/2010 TO 05/10/2011 IS 14 MONTHS. WHY U R NOT CONSIDERING SEPTEMBER .

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 January 2013 From 30/09/2010 to 30/09/2011 its 12 months and one month for remaining delay. So total 13 months.

PURVI

PURVI (Querist)
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01 January 2013 WHY YOU R NOT TAKING IN YOUR CALCULATION THE MONTH OF SEPTEMBER.ACTUALLY LAW TELL THAT INT. SHOULD CALCULATE FORM THE MONTH OF DEDUCTION UPTO DATE OF ACTUAL PAYMENT ,IS IT TRUE?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 January 2013 Yes. Date of deduction is 30/09/2010. From 30/09/2010 to 30/10/2010 it will be taken as 1 month. You are taking 30/09 as 1 month.

PURVI

PURVI (Querist)
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01 January 2013 why r you taking date to date interest is calculate 1.5 % month or part of month

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 January 2013 https://www.caclubindia.com/experts/tds-577865.asp#.UOKYCOSKLj4

Please check out above link for details.

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PURVI

PURVI (Querist)
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