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Query related to payment of interest on late payment of tds

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Kratika Jain

partner

21 Points Posted on 31 December 2013

I need to pay interest on late payment of tds and on generation of justification report i found that there are so many deductees on which tax was deducted in diff. sections like 94C,94H, 94A etc. against whom such late payment interest demand arose.

Kindly let me know whether there is a need to pay interest through separate challans indicating diff. tds sections like 94H,94C or I can pay full interest through one single challan indicating any one section and it will automatically set off my liability against that section and other sections as well as I paid the full amount of interest.

Also If there is a need to bifurcate corp. deductee and non corporate deductee on payment of interest on late payment or I can code any of them and pay int. in full.

Kindly resolve my query immediately as I have to pay interest today.

Thanks

Kratika Jain

Replies (1)

CA Dhruva Kalamanji

Chartered Accountant

1601 Points Posted on 31 December 2013

hi krathika jain,

it is not mandatory to bifurcate noncorp/ corp and even bifucation is not required deductee wise ,

Just have to pay interest and put amount in interest column in challan with respect to section.

Please take care of interest payment section wise. After interest payment you also have to revised TDS return with interest payment challan details. After revising TDS return you may check online though TAN login whether default is still exist or not.