What are the interest & penalty applicable on Tds
This query is : Resolved
RK AND ASSOCIATES
(Querist)
01 October 2017
we have not deducted TDs on rent from April 2017 to sept 2017.for six month now if we want to deduct tds for all six months while making payment for Oct 2017 what are the interest and penalty applicable
02 October 2017
No need Interest and Penalty...
When you deduct the TDS after it reaches the due date and you can pay it on or before 7th.
If not paid 7th you calculate Interest on Deducted date to Deposit date...
When you deduct the TDS after it reaches the due date and you can pay it on or before 7th.
If not paid 7th you calculate Interest on Deducted date to Deposit date...
RK AND ASSOCIATES
(Querist)
02 October 2017
from April we should have deducted TDs which we have not done
02 October 2017
If you deduct April month TDS on May 1st then you must pay before 7th may. If not pay interest...If you deduct the same on July 1st pay it before 7th July... The same is above...
When you DEDUCT the TDS then you ll be pay it next 7th...
When you DEDUCT the TDS then you ll be pay it next 7th...
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