Tds calculation with interest
Sulabha (Accounts Assistant) (67 Points)
05 August 2016
can anyone send me the excel sheet for TDS calculation with interest from 1/4/16 to 31/7/16
RUDRA
(CA FINAL)
(149 Points)
Replied 06 August 2016
if tds not deducted interest rate will be 1% for every month
if tds deducted but not paid interest will be 1.5% for each month on tds amount
Sulabha
(Accounts Assistant)
(67 Points)
Replied 06 August 2016
Yes sir we have not deducted the TDS but we have to paid the TDS on the payment & in further payment to party can we deduct the same
RUDRA
(CA FINAL)
(149 Points)
Replied 06 August 2016
yes you can deduct. if you not really deducted tds you need to pay 1% interest only
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