Tds

TDS 368 views 1 replies

I HAVE RECEIVED A NOTICE FORM TRACE

THE DATE OF DEDUCTION IS 30-JULY-2012

THE DUE DATE IS 07-AUG-2012

I HAVE PAID THE CHALLAN ON 10-AUG-2012

HOW MANY MONTHS IS CALCULATE? 2 OR 1

IF 2 ? WHY

PLEASE TELL ME.

IN MY OPINION IT IS 1 MONTH AS THE DAYS ARE (30-JULY -2012TO 10-AUG-2012=11) 11 SO IT IS APROXYMATELY 1 MONTH.

IF 2 MONTH ? WHY

PLEASE TELL ME.

 

Replies (1)

Interest is calculated from the date of deduction till the date of remittance and it is calculated on the basis of one month or part of a month. Hence even 1 day in july is considered as part of a month.

Hence 2 months Interest @ 1.5%.


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