Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Tds interest calculation

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2015 M/S A had not Deducted TDS on contract bill because their bill did not cross the limit but in the month of December-2014 contract exp. exceeds 75000 thus they have to deduct tds.

My Question is how much interest should be paid on it please check my calculation.

MONTH
1)Jul-14
2)Oct-14
3)Dec-14

AMT
1) 14715
2) 23691
3) 44564

DATE OF DEDU.
1) 02/02/2015
2) 02/02/2015
3) 02/02/2015

tds@2%
1) 294
2) 473
3) 891

1% int
1)24
2)24
3)27

these all will paid in the month of feb-2015

please reply as soon as possible
It's urgent

thanks in advance

@VaibhavJ

@VaibhavJ (Expert)
Follow

03 February 2015 Hi

When limit exceed threshold limit TDS to be deducted on total amount without any Int. on that. if TDS is paid on time.

Thanks!!
@VaibhavJ

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now