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Applicability of interest on tds on salary

TDS 537 views 2 replies

Hello Everyone,

Happy New year to All my dear & nears.

I have a query regarding, is Interst need to charge on TDS deducted on Salary. I have not deducted any TDS during the dear. and now i have deducted TDS for last 9 Month from the Salary. So for this query, i want to know that i should deposit the interest with TDS Deducted. Only in case of Salary. Please give your opinion or latest amendment in law regarding this.

Thanks & Best Regards

Rakesh Kumar

 

Replies (2)

no u r not required to deposit interest, if u've not deducted TDS earlier, but make sure proper tds is deducted from salary

Since TDS on salary need to be deducted on payment basis so when salary is being paid monthly TDS need to be deducted on monthly basis & since TDS is deducted late so late deduction interest will be applicable @ 1% p.m.


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