tds query

This query is : Resolved

Guest

Guest (Querist)

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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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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