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Interest on late payment of TDS

TDS 779 views 2 replies

P A RUPESH RAMNATH

CA IN PRACTICE

223 Points Joined January 2008

We have deducted Rs.60000 on 31.03.2010 for rental payment and paid into govt account on 25.09.2010.

I want to know the following

a. Due date of payment for deduction made on 31.03.2010

b. No of months of default

c. Rate of interest

Replies (2)

CMA. CS. Sanjay Gupta

"PROUD TO BE AN INDIAN"

114245 Points Joined February 2009

(a) Due date:

If deducted on payment 07/04/10
If deducted on Prov 31/05/10

(b) No of Months of Default--

April to Sept 6 months

(c) Interest @ 1% till 30.06.10
interest @ 1.5% from 01.07.10

Total Interest---(7.5% on Rs. 60000/-)

April To June---(1*3)3%
July To sept (1.5*3=4.5%)