Hi, I don't know how to pay the interest for late payment of TDS.I don't know how to mention it in the challan and cheque what i am going to send. One more thing we are making payment in manual format. Please help me in this issue. Thanks
Menu
Tds -interest payment
Replies (3)
Interest on late payment is 1.5% from the date of credit of payment if TDS is not paid on due date.
Also if you only have to pay interest then, there is a provision in the Form 281.
You can write down the amount there and prepare the challan. With regards to issue of cheque, you have to deposit cheque into the bank you normally deposit other Tax Related cheques. Just keep in mind just mention Interest amount in the "CHALLAN"
Only payment will not remove the default from TRACES.You need to file revise return with the details of late payment challan.
INTEREST PAID WITH IN ONE MONTH FROM INTIMATION GENERATE.file revise return .
Recent Topic
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
- 194JB INCOME
- Filing ITR3 where income under section 44AD with L
- What is superannuation fund
- GST Refund of input services under Inverted Duty S
- Dividend Reporting
Related Topics
CAclubindia
