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Interest on tds

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Accounts Officer & In charge
3308 Points Posted on 15 May 2018

Can anyone calculate the Interest on TDS for the month of March 2018?

TDS 192B Rs 353950/- Payment will be done today.

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On 15 May 2018 at 13:38 Report
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504 Points Posted on 15 May 2018
int-5309.25
i.e 1.5% per months or part of.
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On 15 May 2018 at 13:55
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Partner at Bhat Momaya & Associates
2319 Points Posted on 15 May 2018

Interest is Applicable for 2 Months i.e. April & May and not one month...

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On 15 May 2018 at 14:04
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504 Points Posted on 15 May 2018
technically it's for 3 months cause section 201A 'from the date of TDs deduction to actual payment ' therefore interest would be 15927
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On 15 May 2018 at 14:07
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Partner at Bhat Momaya & Associates
2319 Points Posted on 15 May 2018

However since the Salary accrues on 31st March, Interest not applicable for March month. Hence only for 2 Months. There are various judgements of High Courts in this Regard too.

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On 15 May 2018 at 14:09
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Accounts Officer & In charge
3308 Points Posted on 15 May 2018

To be in safer side we will pay interest for 3 months.

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On 15 May 2018 at 14:12
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504 Points Posted on 15 May 2018
ya pay for 3 months , cause getting due on 31st march satisfies the provision "part of " . And it's a debatable issue so you pay for 3 months to avoid other penalties...
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On 15 May 2018 at 14:15
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"Do the Right Thing...!!!"
128147 Points Posted on 15 May 2018
As per the query Interest will be calculate 3 months.




Simply wait and receive the notice from TRACES. It is noticed the Payable amount and Also in the dashboard... 😊😊😊😊
463 Reply
On 15 May 2018 at 15:52


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