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.
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%.
Shyam S Gupta and Company
New Delhi
CA Inter
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