CHAVDA SANJAY MANSUKHBHAI (proprietor) (402 Points)
27 June 2013I 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.
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 27 June 2013
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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