TDS LATE PAYMENT INTEREST CALCULATION
This query is : Open
Arvind Kumar
(Querist)
14 May 2017
tds deduction in 31st mar 17 and deposit 13.5.17. pls update tds late payment interest rate and calculation
Ankur Singhal
(Expert)
15 May 2017
dear
inteest on late payment would be calculated for 3 months @
Ankur Singhal
(Expert)
15 May 2017
nterest will be levied at 1% for every month or part of a month for delay in deduction of tax and at 1.5% for every month or part of a month for delay in remittance of tax after deduction. Q5. As per section 201(1A), interest for delay in payment of TDS should be paid before filing the TDS return.
Arvind Kumar
(Querist)
15 May 2017
1.5% per month ya 1% per month
Ankur Singhal
(Expert)
15 May 2017
1.5% p.m since you had deducted tds on time but deposited late .
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