Naveen Singh Chahar (Student CA Final ) (24 Points)
29 October 2013hiii,
A payment was made on 8/10/2012 but forgot to deduct TDS and the same was deducted and deposited on 5/12/2013 without the interest payment.
Now a notice has been received from the department for payment of interest. Kindly advice whether the interest calculation is to be made till Dec'12 or till date.
CA Abhishek Goyal
(Chartered Accountant)
(504 Points)
Replied 29 October 2013
Interest is calculated from the date of payment. i.e 8/10/2012. you have to calculate the interest of 15 month.
rate is 1.5% per month & part there of. i.e 15 months interest is calculated.
CA Abhishek Goyal
(Chartered Accountant)
(504 Points)
Replied 29 October 2013
if the date is 10/08/2012 to 12/05/2013 thn interest should be calculated for 10 months...
Nikhil Kaushik
(Fellow CA)
(84928 Points)
Replied 30 October 2013
Dear abhishek,
If it is 12 May, then for 10 months. In your first message you wrote 5/12 which may be construed as 5 December.
CA Abhishek Goyal
(Chartered Accountant)
(504 Points)
Replied 30 October 2013
Mr.Nikhil Kaushik
I am Sorry for my 1st msg. i understand 5/12 as a 5th december 2013. bt thn realized so i correct my mistake..you can see my 2nd msg.
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