Tds interst
This query is : Open
Rekha Sharma
(Querist)
14 November 2011
Dear sir
Please help me our company does not deposit TDS monthly in bank than how can we calculate interest, what formula we use simple interst formula or compound interest formula? is this right if we deposit TDS quarterly in bank?
Please help me our company does not deposit TDS monthly in bank than how can we calculate interest, what formula we use simple interst formula or compound interest formula? is this right if we deposit TDS quarterly in bank?
CA Ayush Agarwal
(Expert)
14 November 2011
Deposit tds monthly or when the due date applies...and also simple interest applies if not paid after deduction @1.5% per month or part of month.
14 November 2011
If you have deducted the TDS and not deposited the TDS by due date then the rate is 1.5% per month.
Regards
Chandan
Regards
Chandan
15 November 2011
Yes agree with both the experts!!!
You will need to pay interest @ 1.5% per month
You will need to pay interest @ 1.5% per month
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