At what time, should we pay the interest for delayed payment of tds in case if we fail to deduct it or to deposit it after deduction for the whole year?
02 August 2020
(I) The rate of interest for late deduction of TDS is @ 1% Per month . (II) 1.5% pm from the date at which TDS was detected to the date of deposit. Normal date of payment for the month of Mar'20 was April'20 , due to Covid govt given some relaxation to pay tax up to 30th June with 0 .75% pm interest as against 1.5% . If TDS is not paid Upto March so sar than intt will be levied @ 1.5% PM .
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