Dear Sir
I have paid the amount of bill on frieght to Transporter who is proprietership firm since april 2017 but didnot deducted TDS on Bill.
now in october want to deduct TDS on Freight so how to cal interst on tds.
sometimes i give advance miney also
You can opt for Late Deduction Interest which is 1 % per month and part thereof on TDS to be deducted, calculated from the date on which tax is to be deducted and Date on which TDS actually deducted.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
