TDS LATE PAYMENT INTEREST

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This discussion clarifies the calculation of interest on late TDS payments following a new ordinance. The user is asking how many months' interest is applicable when TDS deducted in March 2020 was deposited on 30 May 2020. While the interest rate has changed, the calculation method remains the same. The key question is whether March and April are exempt from interest calculation, leading to only one month's interest for May.

jaisal

jaisal (Querist)

04 June 2020 If we deposit TDS on 30 MAY 2020 having Due date 30 April 2020 and deducted in March 20 Month. with new Ordinance, how many months interest payment is applicable.

CA ANKIT GADA

CA ANKIT GADA (Expert)

05 June 2020 3 Months @9% p.a. There is no change in caculation of interest but only rate is reduced.

jaisal

jaisal (Querist)

05 June 2020 March month due date is april 30.i have read in some online tax reference pages that march and april is exempted for calculation.period of delay is may so one month interest is payable for late tds payment. Is there any clarification s per inometax

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