Tds penalty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 December 2013
Hi,
I made a payment for a professional service for the amount of Rs.90,000/- on 31.03.2013.
They issued an service Invoice on 20.05.2013 for Rs.1,00,000/-. Their actual fees was Rs.1,00,000/- by deducting TDS of Rs.10,000/- i paid Rs.90,000/- to them. But i was not yet deposited the TDS amount.
What was the penalty & Interest as on Date.
I made a payment for a professional service for the amount of Rs.90,000/- on 31.03.2013.
They issued an service Invoice on 20.05.2013 for Rs.1,00,000/-. Their actual fees was Rs.1,00,000/- by deducting TDS of Rs.10,000/- i paid Rs.90,000/- to them. But i was not yet deposited the TDS amount.
What was the penalty & Interest as on Date.
CMA Ramesh Krishnan
(Expert)
06 December 2013
Interest will apply 1.50% per month of part of the month from the date of deduction to date of tds deposit
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