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interest on tds u/s 201

07 September 2017

what wo
uld be the minimum period of interest if tds deducted but not deposited?

suppose, i have deducted tds on 31/08/17 and deposited on 08/09/17 .
will default period be 1 month or 2 months.

thanks in advance.

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5 Replies

(Guest)

18 % PY nw u calcalate

Rajeev Thakur (8 Points)
Replied 07 September 2017

I agree with u Samir sir ,
but i want to know if u have deducted tds on last day of month nd deposited it one day after the due date.

nw will int be payable for 2 months?

(Guest)

7 of every month last date for tds so if u paid on

8 interest is payable @ 1.5% per month

here u have to pay for one month i think

Rajeev Thakur (8 Points)
Replied 07 September 2017

since interest is charged 1.5%per month or part of month.
Suppose, i have deducted TDS on 30th June, and deposited it on 08th of july then 1 day of June will be treated as one month and 8 days of July will be another one month.
Hence total period is 2 months. Since,
As per the Act , interest is charged from the period when tds is deducted to till tds deposited .