Interest on tds

641 views 2 replies

Hi,

Please clarify the Interest to be paid.

1. Rent paid date- 10th Jan 2013

2. Date of deduction – 20th Mar 2013

3. Date of payment – 20th March 2013

Please clarify on the number of months for the interest need to be calculated and at what rate.

Replies (2)

As per 201(1A)(i) of IT Act, Pay simple interest at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted;

3% interest (1% for 3 Months)

Interest - 3% in your case


Tax Deductible Date to Tax Deducted Date  - 1%

Tax Deducted Date to Tax paid Date  - 1.5%

In your case both Tax Deducted Date and Paid date is same 

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details