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