TDS is to be deducted on payment or credit basis, whichever is earlier.
What will be the conciquences in case of:
I had received a bill on professional services 10/11/2014 for Rs. 100,000, i entered the same in my accounts without providing TDS on 10/11/2014.
I paid the party on 15/12/2014 after deducting TDS and deposited TDS on 07/01/2014.
In this case will there be any Interest Liability?