interest on TDS

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

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

interst will be 1.5% not 1%

yes at present 1.5% agreed with valji 

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          

for 10-11 previous year what is the interest rate, is it 1%