Hello,
can any one tell me why income tax department is charged Interest on late payment of TDS for 2 month even if delay is for less than 30days. Is it correct to collect interest for 2 months ?
e.g. If i have deposited TDS on 10th of July 2014 for the deduction made on 30th June Interest is to be charged @ 1.5% for part of themonth.
Why should i pay interest for 2 months though delay is for less than 30days
Please solve this query