Hi,
During the financial year 2012-13, there is a difference of Rs. 3400 between the TDS deducted and TDS deposited, where TDS deposited being short of this amount. Could you please tell me how this issue can be handled.
Also, it would be great if you could tell me regarding the penalties for the late deposition of TDS amount.
Many Thanks,
Mubashir
A novice in these topics
You are require to pay TDS Difference with Interest @ 1.5% per Month or Part of the Month,
Note: Interest Calculation Starts from Date of Deduction & not from Due date of Payment
H! Agree with Momin Ahmed!
Please note that you have to Pay Interest for Part of Month also...
Month means 1 English Month and not 30 days...
CAclubindia
