Tds late deposit interest & other penalties
This query is : Resolved
27 August 2012
Dear Sir,
My queries are:
1. what are the Penalties & Interest for late deposit of TDS? Are they computed on daily basis or monthly basis? If the TDS is realted to January 12 & deposited on 8th February 2012 then what will be mode of computation if the same intended to be deposited by 7th September 2012, for an amount of say Rs.100 TDS? pLEASE ILLUSTRATE THUGH AN EXAMPLE.
2. Can we deposit Such penalties & interest through A SINGLE CHEQUE but separate challan along with TDS LIABILITY OF AUGUST 12?
My queries are:
1. what are the Penalties & Interest for late deposit of TDS? Are they computed on daily basis or monthly basis? If the TDS is realted to January 12 & deposited on 8th February 2012 then what will be mode of computation if the same intended to be deposited by 7th September 2012, for an amount of say Rs.100 TDS? pLEASE ILLUSTRATE THUGH AN EXAMPLE.
2. Can we deposit Such penalties & interest through A SINGLE CHEQUE but separate challan along with TDS LIABILITY OF AUGUST 12?
28 August 2012
interest @ 1.5% per motnh for non deposition. For non deduction it is 1% per month.
Part of month is counted as full month.
The period starts from the date of transaction.
All the Best.....
Part of month is counted as full month.
The period starts from the date of transaction.
All the Best.....
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