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Interst on late payment of tds demand notyice u/s156

18 February 2012

Hello everyone,

Our company has got demand notice u/s156 for tds interest on late payment of tds. Now, I want to pay this interst on late payment of tds online.BUt when I selce the nature of payment, only list of relevant sections of TDS like 194a,j,i,195 Etc can be seen. There is no such category like interst on late payment of tds. Tell me uner which head I should pay the amount of interst on late payment of TDS?

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4 Replies

CMA Ramesh Krishnan (Cost & Management Accountant) (71609 Points)
Replied 18 February 2012

You need to check the interest calculated on which payment and which challan related, in case interest related to 94C then you can mention 94C and other sections accordingly.

A TRINADHA RAO (Accountant & CA IPCC STUDENT) (155 Points)
Replied 18 February 2012

Dear friend

First calculate interest of late payment of TDS on Different Sections(as we applicable). In online payment

then payment in deifferent sections(as we applicable)like 194A.I,J.

Select in Nature of payment Interet selecte.

Narmly we pay tds same process

this my best knowledge

iam doing same process.

redards

ATR

Vizag

CA CS Preeti Mehta (nil) (635 Points)
Replied 19 February 2012

THanks for your reply but its really very tedious process to find out under which sections late payments were made as there are as many as 9 to 10 sections under which late payments were made & in demand raised by department only the interest amount is payable & that too only Rs. 500/- I sthere any other way to make this payment?