tds

TDS 451 views 1 replies

sanju

Accountant

348 Points Joined May 2011

friends,

for 11-12, 10-11 previous years what is the interest rate for late deposite of tds amount, thanks in advance

Replies (1)

Guest

Interest up to 30.06.2010
1. For late deduction of Tax deduction at source-(rate 1 % per month or part thereof)
2 For late deposit of TDS after deduction (rate 1 % per month or part thereof)

Interest from 01.07.2010
1 For late deduction of Tax deduction at source-(period date from tax deductible to date of actual deduction )(rate 1 % per month or part thereof)
2 For late deposit of TDS after deduction (period :date from tax deducted and date of actual deposit)(rate 1.5 % per month or part thereof)