What are the interest & penalty applicable on Tds

This query is : Resolved

RK AND ASSOCIATES (Querist)
Follow

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

RAJA P M

RAJA P M (Expert)
Follow

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...

RK AND ASSOCIATES

RK AND ASSOCIATES (Querist)
Follow

02 October 2017 from April we should have deducted TDs which we have not done

RAJA P M

RAJA P M (Expert)
Follow

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...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok