Hello,
i m confused in TDS short deduction interest calculation.
how to calculate TDS short deduction interest from following details.
Deduction date is 04/12/2012
Payment date is 04/02/2013.
Contract amount is 74400.00
short deduction amount is 744.20 rs.
as per my calculation short deduction amount is 42 rs. but in NOTICE there is 77 rs. demand.
interest @ 1.5% to be calculated on tds deducted from the date of deduction upto the date of paymnt..
I m asking about the short deduction....1.5% rate is for late payment interest....1 % is for late deduction interest...plz show me the workings tht how 77 rs is come as a short deduction interest..
I am dhrithi an articled assistant joined last month and can anybody help me out with this query.
calulation on interest on short payment
date of payment : 30/9/2012
date of deduction : 30/9/2012
due date : 7/10/2012 (if am not wrong)
delayed deposit months: 1
rate : ????
as per notice short payment is 17484 and interest on short payment is 3393.
i don't understand how is this calculated on what rate and delayed by how many months?
can anybody please show me the working?
please help.
please reply me on dhrithisrinivas @ gmail.com
dhrithisrinivas @ gmail.com
Dhrithi, you can check the interest details by generating justification report from tdscpc website. If there is any calculation error, you can inform tdscpc.
TODAY. I DOWNLOADED A JUSTIFICATION REPORT.
& FOUND that their calculation of interest was wrong !
plz correct me if I m wrong !
from 23rd sept. to 12th oct. !
this is 1 month !
?
RESPECTED SIR,
HOW TO PAY SHORT DEDUCTION AND INTERST ON SHORT DEDUCTION
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