banner_ad

How to calculate interet on late payment of tds

TDS 501 views 1 replies

Please explain me how to calculate interet on late payment of TDS.

Say, we deducted TDS on 31.05.2013 and paid TDS on 09.06.2013. In this situation, for how many months we should calculate interest. For 2 months or 1 month???  TDSCPC is calculating interest for two months in this situation. Is that correct? We paid interest for 1 month, as there is delay of only 2 days. We received Notice from TDSCPC asking us to pay interest for 2 months. 

 

When TDS returns were processed by NSDL, they accepted interest for 1 month. We did not receive any notice.

I request you all to provide your advice on this issue.

Regards

M. Suresh

 

Replies (1)

actually, it is the normal course followed by income tax depatt. in practical life.....they charge the intt. for the date of deduction till the due date of payment and then from due date to actual date of payment.......


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details