We couldn't pay salaries to our staff regularly during the year 12-13. To some we have paid 3 months' salary( Januaray, February and March) during July, 2013. Hence we could not deduct TDS. We have not deducted TDS for all the months that we have paid. Please suggest the rate of interest to be paid by us.-
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Late payment of tds
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1.5% of the amount for the month ( From Date of deduction to Date of payment) No of months
Interest is 1.5% per month, bt apart from interest there is penalty too for non compliance of TDS.
I think it is 200 per day. please have a check and kindly correct me if i am wrong
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