Interest on interest on tds late payments

TDS / TCS 1163 views 1 replies

Hi, Income tax department is sending intimation u/s 200A along with notice of demand in case of late payments of TDS.

I have come across instances where the amount paid/credited on which TDS was deductible was paid/ credited on 31st march where the time limit is 31st may for PY 2009-10. Also the department is charging interest on interest. I would like to know the section under which interest on interest is chargeable and the rate and method of calculation.

Replies (1)

How to calculate interest on tds? 

question.:  I had receive a bill Rs 36832 on 4/7/2011 and i alredy payment done in cash  as a advance Rs. 20000 on 29/6/2011. Now 28/8/2011 i done rest of payment Rs 16464 after ded. tds. so want to know that how to  interest to be calculate .


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