Tds insterest

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accountant
96 Points Posted on 03 June 2020
Sir
I have deducted Rs. 40000 Tds on salary on dated 31.03.20 but due to lockdown not deposit that time.
I want to deposit with interest in the month of June
So Pls suggest interest rate. 1.5% per month or .75 % per month (as per amendment)

And as on June how many amount to be deposit.

Regards
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On 03 June 2020 at 13:31 Report
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Quick Summary
This discussion clarifies the interest rate applicable for delayed TDS (Tax Deducted at Source) payments on salary. The consensus is that the interest rate is 0.75% per month. The calculation for the total deposit amount involves determining the number of months the payment is delayed past the original due date.

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General Manager - Finance
1040 Points Posted on 03 June 2020

You have to pay Interest @ 0.75%

1 Reply
On 03 June 2020 at 14:39
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accountant
96 Points Posted on 03 June 2020
For 4 Month @ .75%
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On 03 June 2020 at 15:51
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General Manager - Finance
1040 Points Posted on 05 June 2020

No, Due date was 30th April 2020. So, You have to pay interest for 3 months only.

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On 05 June 2020 at 10:51

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