TDS INTEREST

Dear Prasad,

In the m/o Apr'19, you have to pay interest @ 4.5% on tax due.amount.

Regards,

Naveen Singh

9716822331

Late deduction of TDS attracts interest @ 1% per month. This is delay in deduction of only 1 month so 1% of TDS amount shall be interest levied.

Interest on Late deduction is 1% p.m. or part thereof.

Here, even though the delay is one day, interest is to be calculated for one month. Therefore, Interest to be paid is 40,000 x 1% x 1 = Rs. 400

Interest on Late deduction is 1% p.m. or part thereof.

Here, even though the delay is one day, interest is to be calculated for one month. Therefore, Interest to be paid is 4,000 x 1% x 1 = Rs. 40 (TDS = 10% of Rs. 40,000)