Tax is deducted at lesser rate i.e 5% was deducted instead of 10%, what is the treatment for such lesser rate of deduction.
Balakrishna Reddy (Student) (68 Points)
17 September 2008Tax is deducted at lesser rate i.e 5% was deducted instead of 10%, what is the treatment for such lesser rate of deduction.
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 17 September 2008
an interest at 1% for the month or part of a month shall be imposable on that part of tds not deducted...............
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