subhajit (Sr. Accountant) (162 Points)
24 June 2013I have deducted Rs. 3500 as TDS on interest of Rs. 35000/- paid by book entry on 31-03-2013. Now I want deposit the money and file my TDS return. What it interest amt and late filing fees? Pls reply soon. Am I deduct correct TDs amt. ?
CA Ramsai N
(Fresher)
(594 Points)
Replied 24 June 2013
194A , the TDS deduction is correct.
Interest for Four months (March, april, may, june) @ 1.5% per month i.e 210/-
Due date for filling march return is 15.05.13 (other than salary)
Penality for late filling SEC 234 E:: 200 per day till the failure of TDS return Continus (but can't exceed TDS amount) i.e 41 days * 200 = 8200/- (max of TDS amount i.e 3500/-)
194A = 3500/-
Interest = 210/-
Penality under 234 E = 3500/-
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