Tds interest calculator
Querist : Anonymous
as per late payment of tds interest rate is 1.5 pm from the date of credit or payment which ever is first not from due date.
Date pay......Amt......TDSpaydate.... delaymonth
01/09/2011...50000.....06/11/2011.... 2
01/10/2011...50000.....06/11/2011.... 0
01/11/2011...50000.....06/11/2011.... 0
accounts maintain cash basis
Querist : Anonymous
TDS deducted 01/09/11
Due date was 07/10/11 which was not complied with.
Now 01/09/11 to 01/10/11 1 month
01/10/11 to 01/11/11 1 month
and 01/11/11 to 06/11/11 1 month (Since act says month or part of month thereof)
So total 3 months.
Querist : Anonymous
means 3 bills.
On the other two transaction no interest will be charged.
Querist : Anonymous
Querist : Anonymous
01/11/11 due date 07/12/11 so no interest as deposited on 06/11/11
Hope its clear now.
Querist : Anonymous
Act says month or part there off.
So after 01/11/11 is crossed interest will be levied for another month so total of three months interest need to be paid.
Querist : Anonymous
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