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Tds interst

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(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?
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CA Ayush Agarwal

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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.
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chandan

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chandan (Expert)
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
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VANDANA

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VANDANA (Expert)
15 November 2011 Yes agree with both the experts!!!

You will need to pay interest @ 1.5% per month
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