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Tds interest
if tds is deducted on 30/04/14 and challan is paid on 5th July 2014, then for how many months interest will be calculated. please reply as soon as possible. thanx in advance.
Replies (2)
Interest on late payment of deducted tds is 1.5% p.m.
For delay in deposit of TDS , Interest wiil be charged from date of deduction till actual date of payment at the rate of interest of 1.5% p.m .Any fraction of a month shall be considered as full month.
In the given case interest shall be calculated for 4 months
(i.e. 30-04-14 to 05-07-14).
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