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tds query

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14 November 2010 good morning to all expert,
plz tell me Delay in TDS Remittance Even a Day- Interest up to 3%!

what is the means of this line as per my knowledge int is 1.50% than what is it

regards
rajiv

14 November 2010 Yes.
Say you deducted TDS on 7th oct. Due date is 7th Nov. If you pay on 8th Nov interest will be 3% as from date of deduction to date of payment it is more than 1 month. If the same RDS was deducted on say 9th of Oct interest will be 1.5% as on date of payment (i.e. 8th Nov) it is 1 month.

14 November 2010 https://www.caclubindia.com/articles/a-day-s-delay-in-tds-remittance-interest-upto-3--6580.asp

You can also see above article for further clarification.


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