Hi,
We have to make an e-payment of Income tax on contractors for AY 2012-13 due on 30th april2012 in May 2012. Kindly let us know what will be the interest rate and for how many months?
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Late payment of income tax
Replies (7)
Per month 1% for one month
It's 1.5% p.m. for 1 month......since it is late payment.
Interest penalty raised to 1.5% p.m from 1% p.m w.e.f 1-7-2010.
agree with pratik
It is 1.5% for every month or part of the month
@ 1.5%/month for one month.
@ 1.5%/month for one month.
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