Interest on TDS

CA-ASPIRANT (CA-STUDENT ) (645 Points)

30 May 2009  

I would like to know if JOB WORK TDS DEDUCTIBLE U/S 194C

till December,08

we received bill for job work for Rs. 15000+16000+4000= 35000

we did not deduct TDS on bills totaling 35000

On 31 January, we received bill for Rs. 19000

Now total turnover exceed Rs. 50000/- and

we deduct TDS ON 54000/-(35000+19000)

Should we pay Interest on Rs. 35000

Please answer it immediately.