Dec 09 payment

expenses will be allowed no problems and tds payment will also be accepted.

Interest will be payable for one month over & above the amount of TDS

Mr. Satish is right. Interest will be applied for one month.

the expenses will be disallowed if TDS is not deposited till the end of the previous year. Refer Sec. 40a(ia)(b)

but TDS need to be deposited with interest as mentioned earlier by Mr. Satish

Thanks guys. I have made payment of the TDS amount without interest. Can I leave the assessment part on the IT dept.?

Dear Abhinav,

As rightly said by Mr. Satish, U Should deposit Interest @ 1% on the amount of TDS...

U can deposit a separate challan of nterest no issues with that..But don't wait for the department to catch u..

Exp will be allowed and payment of TDS will also be accepted, but u will have to pay interest @ 1% p.m.

say tds  be 10000. Rate of int is 1%. Int will be. 100 RS. AM I RIGHT.

 yes... interest at 1% per month on TDS Value... viz. Rs.100 on Rs.10,000 

expenditure is allowed for deduction but interest paid for one month

expenditure is allowed for deduction

interest paid for one month for late payment