Tds late filing what is the interest rate
This query is : Resolved
02 January 2014
Dear Sir
If we file TDS Return late what is the interest rate charge by Government.
i want to know both details of late payment and late filing.
Thanking You
Amruth Kumar
If we file TDS Return late what is the interest rate charge by Government.
i want to know both details of late payment and late filing.
Thanking You
Amruth Kumar
02 January 2014
from date of deduction to date of payment, 1.5% per month or part of the month.
For late filing Rs 200 per day refer section 234E.
For late filing Rs 200 per day refer section 234E.
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02 January 2014
Hi Amruth,
I agree with Nikhil Kaushik, however the total amount of fee paid under section 234E shall not exceed the amount of tax deductible.
In case of late payment interest @ 1.5% per month or part of the month will be charged from the date of deduction (not the actual date of payment).
For e.g. if you have deducted TDS on 20th September and the due date of payment of TDS is 7th October and you have deposited TDS on 10th October then interest will be charged for 2 months i.e. for September and October.
I agree with Nikhil Kaushik, however the total amount of fee paid under section 234E shall not exceed the amount of tax deductible.
In case of late payment interest @ 1.5% per month or part of the month will be charged from the date of deduction (not the actual date of payment).
For e.g. if you have deducted TDS on 20th September and the due date of payment of TDS is 7th October and you have deposited TDS on 10th October then interest will be charged for 2 months i.e. for September and October.
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02 January 2014
yes thanks Sahil for adding to my reply.
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