Interest on late payment of tds

The TDS for the month of April is to be deposited on or before 7th May. In your case TDS is deposited on 6th July which has resulted into a delay of 3 months (ie. May, June and July), hence Interest shall be calculated on 3 months. The rate of Interest on late deposit of TDS is 1.5 % p.m

Regards,

Devenda

For the month of april, you supposed to deduct tax in  the month of april and needs to be deposited on or before 7th May. Since you deposited in the month of July, it was delayed by 3 months. There are two types of interest rates are inforce.

For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof) 

For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)

3 months delay @ 1.5% P.M so 4.5%

3 monts delay, May June & uly, 1.5% p.m. ie, 4.5%

Agree with above. TDS deducted in the month of April is to be deposited on 7th may or before,but here deposited on 6th july,delay months,MAY,JUNE,JULY,3 month

Rate of interest 1.5% per month

Total interest 4..5% applicable.

ca praveen

Kindly tell me in 3CD, under which clasuse Interest on late payment of TDS would be shown :

Clause 17(d) or Clause 27 ? Please reply asap.

Check the 3CD forn mention their for Interest on Late payment of TDS.

Dear Manan,

Clause 17(d) is for "Delay in payment of Provident fund" for TDS payment delay Clause 21(i) is there in 3cd report.

Originally posted by : Devendra
	The TDS for the month of April is to be deposited on or before 7th May. In your case TDS is deposited on 6th July which has resulted into a delay of 3 months (ie. May, June and July), hence Interest shall be calculated on 3 months. The rate of Interest on late deposit of TDS is 1.5 % p.m Regards, Devenda

But,

Tax of April is payable on or before 7th May, but paid on 6th July.

I think the late is -

from 7th May to 6th June - 1 month

from 7th June to 6th July - 1 month

total 2 months.

what about this?