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Tds on late payment

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22 February 2012 pLEASE LET US KNOW THE INTEREST PERCENTAGE FOR DELAY IN REMITTING OF TDS AS FOR ONE INVOICE OF NOV 2011 TDs is not deducted. Now we have to deduct TDS and pay in March 2012. Please let us know the calculation for Rs 36464/- at 2% TDS if we are paying in March 2012.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 February 2012 TDS need to be deducted on Nov-2011 so not deducted. delay in TDS deduction, hence 1% interest per month or part of month. total interest will be Nov-11 to March-2012- 5 months -5% need to be paid
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