Please let me know the about the following case:
Suppose TDS deducted for the month of Sep'12 on
Case1 - 03.09.12 for Rs.10,000/-
Case 2 - 25.09.12 for Rs.10,000/-
and the same is deposited on 06.12.12
whether in both the cases the interest @ 1.5% will be charged for 4 months or:
Case1 - 4 months
Case2 - 3 months
The theory goes as follows:
at 1.5% for every month or part of the month on the amount of such tax from the date on which such tax was deduced to the date on which such tax is actually paid.
Please substantiate your views.
Thanks,
Lavanya Bhimsaria
CAclubindia
