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TDS interest

Others 266 views 3 replies
what is the interest chargeable on TDS payment delay?
Replies (3)

1.5% Interest  to be calculated from the date of deduction ( calculate including date of deduction month ) 
for e.g.  date of deduction is 10/07/2019 and date of payment of tds is 10/08/2019 (i.e. late by 3 days)
then interest will be calculated for two month i.e. July and August 2019.

1000 x 1.5% Interest = Rs. 15 multiply by Two Months i.e. Rs. 30.

 

 

if date of deduction is 31.07.2019 and date of deposit is 25.08.2019

what is the interest amount
interest amount will be 30/-( for TDS amount of Rs. 1000/-) as per above calculation. for the month of July and August for two months.


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