194 IA late payment

If TDS is lately deducted u) s 194IA what is the late fees and penalty?
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Quick Summary
This discussion addresses the penalties for late TDS deduction under Section 194IA. Interest is charged at 1% per month or part thereof on the outstanding tax amount from the due date until the deduction date. The query also seeks clarification on any threshold limits for this interest and the specific quantum of interest applicable.

Interest shall be levied at 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax was deducted.

Threshold limit is there?
post quantum of interest.

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