Urgent please

Interest for late payment of Tds is 1.5% per month.

January Tds to be paid before 7th February if it delayed one day one month interest for the payment paid on or before 7th March so on

In your case:

for January tds Rs.1500X1.5%X5(upto 7th July) is Rs.113/-, February Rs.1500X1.5%X4(upto 7th July) is Rs.90/-, March tds Rs.1500X1.5%X3(upto 7th July) is Rs.68/-

Total Tds Rs.4500/- + Interest Rs.271/- is 4771/-
 

In my view, if the amount of income/aggregate of amounts of income paid/likely to be paid during the financial year to the account of the payee does not exceed 1,80,000/-, no deduction of tax is required. Let others comment.

Originally posted by : Krishna
	In my view, if the amount of income/aggregate of amounts of income paid/likely to be paid during the financial year to the account of the payee does not exceed 1,80,000/-, no deduction of tax is required. Let others comment.

agreed              

Originally posted by : Krishna
	In my view, if the amount of income/aggregate of amounts of income paid/likely to be paid during the financial year to the account of the payee does not exceed 1,80,000/-, no deduction of tax is required. Let others comment.

Fully agreed from  above comment 

Hi krishna, I agree with you but in this case they deducted tds but not remitted.