Tds on contract payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2011
WHAT IS THE PROCEDURE FOR DEPOSIT OF LATE PAYMENT OF TDS AND WHAT IS THE RATE OF INTEREST FOR LATE PAYMENT OF TDS AND HOW CALCULATE THE RATE OF INTEREST ?
27 July 2011
In case of late deposit of TDS amount, deposit the TDS amount along with interest @ 1.5% per month of the TDS amount.
Say TDS 1000, interest for 1 month @ 1.5% i.e Rs 15. So you will deposit Rs 1015 through ITNS 281. You will fill Rs 1000 in TDS column and Rs 15 in interest column.
Say TDS 1000, interest for 1 month @ 1.5% i.e Rs 15. So you will deposit Rs 1015 through ITNS 281. You will fill Rs 1000 in TDS column and Rs 15 in interest column.
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