Department is correct in levying interest for 3 months (05 Aug to 07 Oct)..... @ 1.5% p.m.
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 14 December 2011
Department is correct in levying interest for 3 months (05 Aug to 07 Oct)..... @ 1.5% p.m.
Pavan Kumar
(Manager - Finance)
(126 Points)
Replied 30 December 2011
I agree with Ashish Gupta and Kiran Sutrave and also department calculation is correct in levying interest for 3 months (05 Aug to 07 Oct)..... @ 1.5% p.m.
Venkat
(Dy. Manager Finance)
(272 Points)
Replied 30 December 2011
Dear All,
I agree with Mr. CA Kiran Sutrave
From August 05, 2011 to September 04, 2011 -- 1 month;
From September 05, 2011 to October 04, 2011 -- 1 month; and
From October 05, 2011 to October 07, 2011 -- 1 month.
The Department is correct.
Dept will calculate interest from the date of deuction of tds by the assessee and the date of payment of interst (for the month or part of the month) - 3m Int is correct.
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