Tds late payment Interest Calculation for multiple payment dates
This query is : Resolved
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.
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
22 July 2023
Consider payment date if no liability created in books of accounts based on invoice date.
Message likes :
1 times
22 July 2023
You are welcome...
....
....
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- ITR-4 vs ITR 5
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
