Tds on property[late payment on multiple installments]

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Hello Everyone,

    I paid earnest money of 7L to builder on 17th April 2015 and 21L to builder on 29th April 2015 towards my first 20% of the booking/agreement payment. Now I realized that I should have deducted the TDS by 7th of May. I haven't. Say if I deduct it today on 16th May 2015. So I have to pay TDS with following penalties:

a) Rs. 200 per day from 8th of May: i.e. Rs. 9 * 200 = 1800.

b) 1.5% penalty/interest for two months on the TDS amount even though there is a delay of 9 days only.

( Q1: is there any other penalty/interest that I need  to pay )

Q2: Can I club two payments of 7L and 14L into one and pay Rs. 200 per day fee as only one penalty. Instead of 9*200 for 7L and 9*200 for 14L ?

Kindly resolve my queries as quickly as possible.

Thanks,

Replies (1)

Only late fee and interest is applicable. Also you can club both payments in single return.


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