Tds interest
This query is : Resolved
13 February 2012
pls tell me if payment made to professional for placement charges from june 2011 onward and no tds deducted by mistake.Then what is the rate of interest and calculation if amount is 110500
CMA Nishad Patkar
(Expert)
15 February 2012
As per Sec. 201(1A),
1% Per Month -- From July-2011 to Feb-2012 for non decution= (110500*.01*8)= Rs. 8840.Show deduction in Feb-12 and Make payment in March on or before 7th so as to avoid interest of 1.5% pm for failure to make payment.
1% Per Month -- From July-2011 to Feb-2012 for non decution= (110500*.01*8)= Rs. 8840.Show deduction in Feb-12 and Make payment in March on or before 7th so as to avoid interest of 1.5% pm for failure to make payment.
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