TDS Interest
This query is : Resolved
S RAMESH KUMAR
(Querist)
27 January 2011
Dear Experts,
TDS Deducted on 06.07.2010, amount remitted on 08.08.10 how much month Interest will attract and how much percentage?
month calculation is 06.07.2010 to 05.08.2010 (31 days) or 30 days
TDS Deducted on 06.07.2010, amount remitted on 08.08.10 how much month Interest will attract and how much percentage?
month calculation is 06.07.2010 to 05.08.2010 (31 days) or 30 days
27 January 2011
Section 201(1A)says, interest is payable for every month or part of a month from the date of on which tax was deductible to the date on which it is actually paid. So delay, as per my understanding, from 6-7-2010 to 31-07-2010 = 1 month and 01-08-2010 to o8-o8-2010 = 1 month thus aggregating to 2 months.
27 January 2011
Agreed with Mr. Chakrapani.
1.5 % penal interest for 2 months > 3%
1.5 % penal interest for 2 months > 3%
Guest
Guest
(Expert)
27 January 2011
Agreed with both experts
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