Tds u/s 194j

Dear Pankaj,

 

You need to pay interest of Rs. 600/- if the date of payment is considered 30th April, 2015.

Dear Hayedar , Pls explain tht how u calculated this amt.

Also explain "if the date of payment is considered 30th April,2015".

Dear pankaj, to deduct Tds And submit the same hope you have taken TAN. And out of bill of Rs. 1 lac if its include rembershment of fees paid to ROC. Tds will be deducted u/s. 194J only on their professional services @ 10% and not on fees paid

Up course tds @ 10% paid to the professional charges

But we have to pay interest on late deduction also?

TDS rate will be 10% i.e Rs.10,000/-

Interest will be 1.5% per month on Rs.10,000/- for 4 months i.e from 1st Jan 2015 to 30th Apr 2015.

So, 

Calculation will be 

Intrest = 10,000*1.5/100*4 = Rs.600/-

You should have deducted the TDS @ 10 but you didn't deduct the same, now you have to pay the Interest for delayed payment. As per section 210(1A) (i) at one per cent for every month or part of a month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted; and (ii) at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.

1) but we can deduct TDS in back date and can save interest for delayed deduction. How will department know that we deducted TDS delayed.

Enter comment here

Intrest for late deposition is also there dear and that too is 1.5 % per month or part of month dear

yes i know we have to pay interest for late deposit but is it possible to save interest for late deduction as bill dated is 6th Jan

no way to save the interest pankaj.... u ll have to pay the interest..

okay... but please let me know how will auditor or department know that i have deducted tds delay.