if paid 75000 in advance what will happen.
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Tds deductibility
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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?
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