Tds late payment interest

TDS 526 views 5 replies

MAY month tds payment...after 7th june krenge to kitna percent interest lagega???like as 14/06/2018 ko payment kiya may month ka tds

Replies (5)

May & June ...... 2 months interest levied...

When TDS is not deducted – 1% per month or part thereof, for the period from the date on which TDS is deductible/collectible to the date on which TDS/TCS is actually deducted/collected.
When TDS is deducted but not paid – Interest at the rate of 1.5% per month or part thereof, for the period from the date on which TDS is actually deducted/collected to the date on which such TDS/TCS is actually paid.

Hi,

As per Section 201A, Non-Deduction of TDS, either in whole or part attracts 1% Rate From the date on which tax was deductible to the date of actual deduction.

As per Section 201A, Non-payment of TDS (after deduction), either in whole or part attracts 1.5% Rate From the date of deduction to the day of TDS payment.

Therefore, 1% interest shall be charged for the month of June if the TDS was not deducted on the due date and @ 1.5% for 1 month as the TDS was deposited after the due date but in the same month.

MENE deduct kiya he tds ...may month ka ,,pr abhi tk gov ko pay nhi kiya he...

so...14/06/2018...ko interest (1.5+1.5)=3 % interest lagega na?

Yes. That is correct if you had deducted TDS in the month of May and deposited it in the month of June.

Sir Pls. advice i hv deduct short TDS on 31.3.2018 against the interest on Loan from NBFC but now the auditor raise the query to deposit balance amount of TDS with interest, kindly advice the rate of interest on short deduction and payment of TDS


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