Tds interest % and days
This query is : Resolved
Malcome M Bandya
(Querist)
04 May 2012
Dear Sir,
bill booked as on 31st Mar 12 and TDS payment date 30th April 12, but we have not paid the TDS payment as on 30th April 12, now today 04.05.2012 we have paying the TDS payment.
Please advice Interest rate and how many days/months we have to pay interest.
Regards,
Malcome
bill booked as on 31st Mar 12 and TDS payment date 30th April 12, but we have not paid the TDS payment as on 30th April 12, now today 04.05.2012 we have paying the TDS payment.
Please advice Interest rate and how many days/months we have to pay interest.
Regards,
Malcome
CA Navin Jain
(Expert)
04 May 2012
interest will be paid fro 2 months @ 1.5% per month
04 May 2012
IT IS FROM THE DATE ON WHICH THE TAX IS DEDUCTED TO THE DATE ON WHICH SUCH TAX IS ACTUALLY PAID
1.5% P.M. OR PART OF THE MONTH
therefore 2 months from 01.04.2012 to 30.04.2012 and may month
1.5% P.M. OR PART OF THE MONTH
therefore 2 months from 01.04.2012 to 30.04.2012 and may month
CA Navin Jain
(Expert)
04 May 2012
@ Shilpa, if tds has been deducted on last date of the month then that month not count for the calculation of interest.
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