Interest on TDS Deducted But not Paid

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..... Interest on TDS Deducted But not Paid
Query (Issue) Started By: - guna ch Dated:- 13-2-2013 Last Reply Date:- 14-2-2013 Income Tax
Got 1 Reply
Income Tax
Dear Sir, Tds is Deducted on 20/ .....

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..... 01/2013, Rs.10,000/-, Due Date is 07/02/2013 But i unable to pay the amount on due date , i paid the TDS amount on 11/02/2013 with interest of Rs.20/- (10,000 X 18%X 4days/365days= 20/-) But one of .....

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..... my freinds said that i should calculate interest for one month Whichever is correct either tds interest calculate on days basis or month basis Kindly replay me. Thanking You Reply By Sanjeev Shar .....

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..... ma: The Reply: In accordance to Section 201(1A), if there is dely in payment of TDS after deduction, interest is payble at one and one-half per cent for every month or part of a month on the amount o .....

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..... f such tax from the date on which such tax was deducted to the date on which such tax is actually paid. In this case Date of Deduction - 20/01/2013 & Date of Deposit - 11/02/13 - It is 22days ,theref .....

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..... ore interest is to be paid @ 1.5% for one month ( month or part of the month) i.e. RS 150.00
Discussion Forum - Knowledge Sharing .....

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