Sowmya.S.Balan (Paid Assistant) (749 Points)
13 July 2011Dear Friends,
Whether Interest on TDS is deductible on bill date basis or due date of payment basis. For example TDS is deducted on bill date 17.07.11 . But Tds paid on 18.08.2011 . Interest to be calculated for the month of august or for august & july. Please clarify my doubt
valji
(Accounts manager-MBA)
(2150 Points)
Replied 13 July 2011
INTEREST ON tds TO BE DEDUCTED FROM THE DATE OF DUE DATE OF TDS
FOR EXEMPLE YOU HAVE TO MAKE THE PAYMENT FOR TDS FOR THE MONTH OF JULY TO 07/08/2011
SO IF YOU PAY ON 18/08/2011 SO INTERST WILL BE PAY FOR ONE MONTH
sajay kumar
(IPCC STUDENT)
(162 Points)
Replied 13 July 2011
bill date is 17.7.2011 so due date to deposite tds is 7/8/2011, if you are not paid with in 7/8/2011 then 1% on deducted amount is interest you have to pay
srinivasa.B
(CA final, Bcom )
(70 Points)
Replied 13 July 2011
yes at present 1.5% agreed with valji
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 13 July 2011
| Originally posted by : valji | ||
 |
INTEREST ON tds TO BE DEDUCTED FROM THE DATE OF DUE DATE OF TDS FOR EXEMPLE YOU HAVE TO MAKE THE PAYMENT FOR TDS FOR THE MONTH OF JULY TO 07/08/2011 SO IF YOU PAY ON 18/08/2011 SO INTERST WILL BE PAY FOR ONE MONTH |
 |
agreed
sanju
(Accountant)
(348 Points)
Replied 14 July 2011
for 10-11 previous year what is the interest rate, is it 1%
CAclubindia
