interest on late payment of TDS u/s 194q - calculated from date of purchase or payment? For example purchase booked in April and payment made in May. Someone claimed that there is an explanation from department that same should be calculated from the date of payment but I couldn't find and not convinced too
Should be calculated from the date of purchase. Please go though department clarification on 194-Q also.
https://incometaxindia.gov.in/communications/circular/circular_13_2021.pdf
Gupta Sachdeva & Co. Chartered Accountants
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