Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
D. Forum
What's New


Discussions Forum
Home Forum Income Tax This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

TDS Interest % for March-20, Income Tax

Issue Id: - 116299
Dated: 18-5-2020
By:- kiran kumar
TDS Interest % for March-20

  • Contents

Dear Sir,

TDS for March-20 was paid on 02.05.2020. As per new rule Interest rate on tds is 0.75% per month. For March-20 we paid in 02.05.2020 now we need to pay 3 months interest 2.25% (Each month 0.75%).

If the above calculation is correct or not Requesting you to advise

Thanks & Regards,

Kiran Kumar

Post Reply

Posts / Replies

Showing Replies 1 to 3 of 3 Records

1 Dated: 20-5-2020
By:- Ganeshan Kalyani

Sir, the current rate of TDS has been reduced by 25% from 14.05.2020 to 31.03.2021.

2 Dated: 21-5-2020
By:- CASusheel Gupta

As per section 201

Interest is leviable at 1.5% (reduced rate 0.75%) 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 was actually remitted to the credit of the Government.

You have rightly stated that interest for three months is payable.

CA Susheel Gupta

9811004443, 8510081001

3 Dated: 21-5-2020
By:- kiran kumar

Thanks for your clarification


Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||