25 July 2020
In above query due date for payment was 7th june he paid late 23.7.20.Is he liable for 2 months int? Any relaxation due to covid 19 problem.
25 July 2020
interest is calculated from the date of deduction till the date of payment. also govt has provided relaxation till 30.06.2020 where in rate cut to 9%. after that normal rate applied...
if deduction is on JAN AND PAYMENT MADE IN MARCH THEN 3 MONTHS INTEREST PAYABLE
02 August 2020
No relaxation , Date of deduction is June'20 & date Date of payment would be August hence interest will be 4.5% ( 1.5% per month for three months)
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