How to calculate interet on late payment of tds

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.......

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
08 October 2026
Accounts and Tax Associate

POOJA R TELI & CO

Pune

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details