Tds deductibility

if paid 75000 in advance what will happen.

Read the link below as well: -

/experts/interest-on-tds-887825.asp

payment made Rs.5,00,000/-  dated: 31.08.2011 but i can deducted tds so what can i do now

payment made 31.08.2011 of Rs.5,00,000 but tds not deducted.

so pls tell me what can i do and which date interest calculate.

payment is made of rs.5,00,000/- in 31.08.2011 but tds not deducted.

can i calculate tds interest  from  march 2012

Dear Santosh,

If the payment has been done on 31-8-11 the the due date for paying TDs on the same would be 7-9-11. So in case the TDS has not been paid till this date then interest would be levied at 1% p.m. from Sep 11 till the month when the TDS has actually been paid to the Governement treasury. I hope this sufficces your requirements

Can anyone quote a case law for payment of interest in this regard?