what is the interest rate in case where we deducted tds of contractors.... but being late deposit tds challan 281.....
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Quick Summary
This discussion clarifies the interest applicable when a business deposits TDS deducted from contractors late using Challan 281. The consensus is that interest is charged at a rate of 1.5% per month, or part thereof, from the date the TDS was originally deducted until the actual date of deposit.