banner_ad

Tds on salary.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 September 2013 we have forgot to deduct TDS on salary on monthly basis. Instead we have deducted the Whole TDS deductable in the month of March.
Now my question is that whether we have to pay any interest or penalty for non deduction of TDS on monthly basis.
Please Advise.
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
05 September 2013 yes. Interest will apply for late deduction and payment at the rate of 1% per month or part of month
Profile Image

CA Pallav Singhania

Profile Image

CA Pallav Singhania (Expert)
05 September 2013 As of now will treated as assessee in default with interest of 1 percent or part of the month....

Rate of interest

W.e.f 01-07-2010

From the date when TDS was deductible till date of actual deduction,rate of interest is 1% p.m.

For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
Profile Image

Amarjit Singh

Profile Image

Amarjit Singh (Querist)
11 September 2013 Thanks for your reply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details