Interest on late deposit of tds for 194j payment

it has to paid from 4th oct

Agree with CA Niel Ganatra

If TDS was deducted on Oct 04, then Interest @ 1.5% will be calculated from Oct 04 till the date of actual payment.

agree with ca Kiran Sutrave.

But Tds is to be paid in the month following the month in which it was deducted.So TDS

has to b paid in November.So, 1.5%has to be paid from nov. to Jan

But the interest is paid from the date on which TDS is deducted.

Interest is to be calculated from the date on which the tax is actually deducted to the date on which tax is actually paid.

Dear Neha

There are two Interest rates that are applicable on delayed payment of TDS depending on situation: -

1. If TDS is not deducted at all then Interest @ 1% is to be deducted from the date of credit or payment whichever is earlier till the date of actual deduction; and

2. If TDS was deducted but not deposited then Interest @ 1.5% is to be paid from the date of actual TDS deducted which may be in form of date of credit or payment.

u have to pay TDS FOR 4 months.  u have deduct TDS on 04/10/2011, the due date is 07/11/2011, if u deposit the same beofe the due date than no interest is applicable, but u have deposite  it on 06/01/2012, so the delay is start from 04/10/2001 to till date

exmplse

04 Oct  to 03/11  - 1 month

04/11 to  03/12    - 1 month

04/12 to 03/01     - 1 month

04/01 to 06/01     - 1 month

u have to pay TDS FOR 4 months.  u have deduct TDS on 04/10/2011, the due date is 07/11/2011, if u deposit the same beofe the due date than no interest is applicable, but u have deposite  it on 06/01/2012, so the delay is start from 04/10/2001 to till date

exmplse

04 Oct  to 03/11  - 1 month

04/11 to  03/12    - 1 month

04/12 to 03/01     - 1 month

04/01 to 06/01     - 1 month

u have to pay TDS FOR 4 months.  u have deduct TDS on 04/10/2011, the due date is 07/11/2011, if u deposit the same beofe the due date than no interest is applicable, but u have deposite  it on 06/01/2012, so the delay is start from 04/10/2001 to till date

exmplse

04 Oct  to 03/11  - 1 month

04/11 to  03/12    - 1 month

04/12 to 03/01     - 1 month

04/01 to 06/01     - 1 month

u have to pay TDS FOR 4 months.  u have deduct TDS on 04/10/2011, the due date is 07/11/2011, if u deposit the same beofe the due date than no interest is applicable, but u have deposite  it on 06/01/2012, so the delay is start from 04/10/2001 to till date

exmplse

04 Oct  to 03/11  - 1 month

04/11 to  03/12    - 1 month

04/12 to 03/01     - 1 month

04/01 to 06/01     - 1 month