Calculation of interest on tds

NAGASAI.K (Article Assistant) (193 Points)

23 August 2013  

Hi,dear experts

I have a query on Calculation of interest on TDS:

Interest is to be calculated from the date of deduction to the date of deposit at the rate of 1.5% per month or part of the month.

my query is meaning of part of the month

for ex: tds deducted on 24/8/2013 and deposited on 12/9/2013

            for how many months i have to calculate tds whether 1 month or 2months or 19 days

please clarify my doubt ...................