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Interest on late deduction of tds section 201(1a)
Suppose TDS is required to be deducted on 05.05.12 (i.e. at the time of advance payment) but same was actually deducted on 25.05.12 and deposited on 07.06.12. Then is there any interest liability u/s 201 (1A) @ 1% for late deduction of TDS?
Replies (1)
Nope there isnt any Interest liability.... As you have deposited the same before Actual due date for payment from the date on which it was required to be deducted....
Regards,
Chirag Haraniya
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