What rate applicable for interest on tds.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2015
when Tds deducted on advance payment but not deposit TDS then interest rate appl is 1.5 % Per month.
other than when we deduct TDS on Credit or provision but not Deposit TDS then interest rate on TDS applicable is 1% per month .
Please reply this question.
other than when we deduct TDS on Credit or provision but not Deposit TDS then interest rate on TDS applicable is 1% per month .
Please reply this question.
17 February 2015
Whenever TDS is deducted but not deposited interest on late deposit to be paid @ 1.5% per month. When TDS is short deducted or not deducted then at the time of deduction and payment of such TDS interest to be paid @ 1% per month.
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 February 2015
but sanjay sir
i just want to know that 1.5% interest charged on making payment when after deduct TDS not deposit.
1% on credit Ie on journal entry if i have deducted TDS on Journal entry but not paid to party,
i just want to know that 1.5% interest charged on making payment when after deduct TDS not deposit.
1% on credit Ie on journal entry if i have deducted TDS on Journal entry but not paid to party,
18 February 2015
Yes even if entry is passed but not paid interest on Late deposit needs to be paid @1.5% per month.
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