Whether the interest on TDS deducted is cumulative ?
eg: Tax deducted on due basis on 31-1-2013 Rs10000/- the amount is deposited on 8th february 2013. the interest rate is 1.5% or 1.5%+1% for two months. TRACES issued notice for same cases at 2.5% are you agree with thier appoach?
the interest will be for 2 months jan & feb (interest for a mnth or par thereof)
agreee with above
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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