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TDS Interest calculation

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(Querist)
27 February 2011 we have paid advance payment for execution of our factory building to factory work contractor Rs. 500000/- on 15.05.2010, Rs. 600000 on 11.10.2010 & Rs. 400000/- on 09.01.2011. Please let me know how to calculate interest penalty on TDS amount?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 February 2011 for Payment on 15.5.2010 - Interest -14 %(May &june 1% each & July to Feb 1.50% each)

For Payment on 11.10.2010 = 7.50% (1.5 % each month)

For Payment on 09.1.11 = 3 % (1.50 % each)

Interest rate apply on TDS amount - TDS rate will be 1 % if the contract non companay, 2% if the contractor is company
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