Tds late payment Interest Calculation for multiple payment dates
This query is : Resolved
Quick Summary
21 July 2023
We paid 3 sub contract payments(194C) after deduction of 1% Tds.
First two payments are advances.(advanced dates)
We got invoice form seller.
3rd payment done after Tds deduction in invoice date.
We dint pay deducted tds intime to gov.
Sir ,
Which dates we need to consider For calculating late tds payment interest for all 3payments.
Date of advances dates OR date of invoice date?
As I know "Date of advance " dates we need to consider for two payments.
Can we consider "Date of invoice date" for 3rd payment interest calculation.
First two payments are advances.(advanced dates)
We got invoice form seller.
3rd payment done after Tds deduction in invoice date.
We dint pay deducted tds intime to gov.
Sir ,
Which dates we need to consider For calculating late tds payment interest for all 3payments.
Date of advances dates OR date of invoice date?
As I know "Date of advance " dates we need to consider for two payments.
Can we consider "Date of invoice date" for 3rd payment interest calculation.
CA R SEETHARAMAN
(Expert)
21 July 2023
Date of advance dates you need to consider for two payments and consider Date of invoice for 3rd payment in case payment/liability created on the date for interest calculation.
21 July 2023
Sir,
If third payment made after one month of invoice received date.
Then as per "Which ever is earlier" concept, we need to consider invoice date for calculating 3rd payment tds late payment interest.
Am I right sir?
If third payment made after one month of invoice received date.
Then as per "Which ever is earlier" concept, we need to consider invoice date for calculating 3rd payment tds late payment interest.
Am I right sir?
21 July 2023
Sir ,
If we consider invoice date for third payment the interest is more.
If we consider payment date for third payment interest is less.
Pls explain sir,
How to follow
If we consider invoice date for third payment the interest is more.
If we consider payment date for third payment interest is less.
Pls explain sir,
How to follow
CA R SEETHARAMAN
(Expert)
22 July 2023
Consider payment date if no liability created in books of accounts based on invoice date.
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CA R SEETHARAMAN
(Expert)
22 July 2023
You are welcome...
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....
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