if company forget to deduct tds (23/3/17) and after some time company deduct or recover TDs amount (14/9/2017) from party and pay tds to government on(2/10/2017)
than company need to interest
1.5 + 1%=2.5% per month?
what is calculation of this problem?
Menu
TDS Interest
Replies (7)
You have to pay interest @ 1% for late deduction of TDS
1% per month
Yes... I agreed with Mr Ashiwini Ballodia.,
You ll be pay 1% for late deduction
*From the date when TDS was deductible till date of actual deduction,rate of interest is 1% p.m.
*For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
You ll be pay 1% for late deduction
*From the date when TDS was deductible till date of actual deduction,rate of interest is 1% p.m.
*For delayed deposit, from date of deduction till actual date of payment, rate of interest is 1.5% p.m
1 % pm * 7 months (i.e March to Sept )
Yes now you are correct
Interest on late deduction for period of due date for deduction and actual deduction. and for interest on late payment is due date for payment of deducted amount to actual payment. so in any case only one kind of interest applies.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
