Interest on late deposit of tds

LEKHRAJ GUPTA (SERVICE) (30 Points)

13 May 2013  

My query is regarding the interest on late deposit of TDS:

Suppose I credited the party account for commission of Rs. 450000.00 on 31.03.2013 and deducted the TDS of Rs. 45000.00 on 31.03.2013 @ 10%. I did not deposited the TDS by 30.04.2013.

If I depositing the TDS on 13.05.2013 than how much will be the Interest on late deposit of TDS

Interest for 3 months (March, April, May) 4.50%

Interest for 2 months (31.03.2013 to 30.04.2013 1 month and 01.05.2013 to 13.05.2013 1 month) 3.00%

Regards

lekhraj.gupta @ gmail.com
09868944040