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Penalty for failure in paying interest on delayed TDS return
Need to know the penal provisions for delay in payment or non payment of interest on delayed TDS return
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201(1A) Interest:- If any person, does not deduct the whole or any part of tax within the time prescribed or after deducting fails to pay whole or part of tax within the time prescribed, he shall be liable to simple interest;
(a) @ 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and
(b) @ 1.50% for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid, and such interest shall be paid before furnishing return of TDS.
(a) @ 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and
(b) @ 1.50% for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid, and such interest shall be paid before furnishing return of TDS.
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