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Interest on tds

Deepali Phulwani (Professional) (29 Points)

28 December 2013  

Dear All,

For A.Y.2013-14 TDS return for 4th quarter was filed on 15/05/2013 and date of deduction was 31/03/2013 and date of challan was 15/05/2013,amount Rs. 15404/-. Now please tell me  the calculation of Interest for the delay of TDS payment and the period for which interest is to be calculated?


 4 Replies

Interest will be calculated from date of deduction to the date of payment on monthly basis @ 1.5%. i.e. Date of deduction: 31.03.2013 n date of payment: 05.05.2013 interest: for mar, apr n may month (1.5% X 3 months X TDS amount)
1 Like

Deepak Tapse (Accounts Manager - Taxation)   (1764 Points)
Replied 28 December 2013

Agree with Mr. Manish, Interest for 3 Months is applicable
1 Like

Amrin (Chartered Accountant) (210 Points)
Replied 28 December 2013

Total amount of Interest will be Rs.693.18/- as per the calculation of Manish above i.e. TDS X 1.5% X 3 months.

When TDS is not paid by its due date, then interest should be charged from the date of "PAYMENT" and not from the date of "DUE DATE"

1 Like

Replied 30 December 2013

Yes, Agree with Mr. Manish... Interest shuold pay for 3 months.
1 Like

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