Tds u/s 194c (tds & interest calculation)

CA Hardik Vyas (Practicing Chartered Accountant)   (130 Points)

10 April 2013  

I have made following payment for Stationary Printing work for Jobwork. But I did not deduct any amount of TDS till the date.

 Sr.no  Party Name Date of Payment work Amt
1 ABC 25/7/12   18750
2  '' 25/7/12   19250
3 " 25/7/12   10500
4 " 24/9/12   6000
5 "  7/11/12   8320
6 "  7/11/12   900
7 "  7/11/12   1200
8 "  7/11/12   1200
9 " 11/09/2012   7300
10 " 18/2/13   3494
11 " 18/2/13   20300
12 " 18/2/13   10200
13 " 25/3/13   3360
14 " 28/3/13   6000
15 " 31/3/13   2400
      Total Amount 119174


As per the above details, Limit of Rs. 75000 crossed in February i.e. 10th Payment.

I wish to know that Interest for default would be payable from very first payment or from February?

I have neither deducted nor deposited TDS yet, as I just come to know that limit was crossed.

Kindly guid me as early as possible.