Which section is applicable for late payment only interest
This query is : Resolved
30 August 2012
Dear Sir,
My query is that i have paid all TDS but late
Please tell me which section aplicable only for Interest payment for all TDS Sections.
My query is that i have paid all TDS but late
Please tell me which section aplicable only for Interest payment for all TDS Sections.
30 August 2012
201(1A)(ii) is the applicable section.
30 August 2012
Sec201
Interest up to 30.06.2010
For late deduction of Tax deduction at source-(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (rate 1 % per month or part thereof)
Interest from 01.07.2010
For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)
Interest up to 30.06.2010
For late deduction of Tax deduction at source-(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (rate 1 % per month or part thereof)
Interest from 01.07.2010
For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)
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