Interest on salary

Dear all, Please let me know do we have to pay interest on Salary TDS before 31st March 2016
Replies (5)

Your question is not clear. What do you mean before 31st March 2016? TDS on salary is not an annual liability (but monthly).

Yes, your question is not clear.....

When we calculate the tax on Salary every month and if suppose we do not pay that TDS

e,g, the TDS on salary for the month of December 2015 Rs. 100000/- is paid in February 2016 instead of January 2016, is interest charged on such TDS??

 

  1. Yes, in this case interest is payable @ 1.5% pm for jan & feb16 (assuming that salary for dec15 is paid during jan 16).
  2. Due date for payment of TDS on salary would be 7 days from the date of payment of salary

 

Thank you so much...

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