IN the case of late payment o TDS. If TDS not paid with in due date then interest has to be paid 1% PM or part there of from the date of deduction of TDS or Credit. That means if we have deducted TDS on 15th January and we have paid on 8th Feb, then we need to pay interest for 2 month? is it correct.
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Interest on TDS
Replies (2)
Yes Interest has to be paid for a period of two months
Yea...Mr Batul is correct. As per Sec 201 of IT Act...the interest has to be paid for 2 months.
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