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Interest on TDS

TDS / TCS 564 views 4 replies
“Received an Advertising Bill on 15th April, 2011. Payment for the same made on 27th August, 2011, after deduction of TDS. TDS deducted from the party deposited without Interest on 5th September, 2011.
Is any Interest Due to the Department on this Payment ?”
Replies (4)

Ya, Interest  is due for 5 months @ 1.5% per month

What happens if the TDS amount was deposited on the date of booking the expenses on 15th April 2011, and after a month, the bill amount is re-negotiated, and the TDS amount deposited is more because the bill amount has come down? Excess TDS paid ? What to do next ?

Agreed with trilochan...

agree with trilochan


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