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Q. > Please Help: interest position on late payment of tds
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693 views • Question added May 14, 2012 • Income Tax • By himanshu mittal , CMA , Muzaffarnagar


can you explain interest position on late payment of tds with example???

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CA Sanjay Mangal

16-May-2012 , 09:10:30 pm

this is depends on the date of deduction. Interest is payable from the date of deduction. Every part of the month is treated equal to full month. Example: Deduction date- 02 april. deposit date 12 may. Interest payable for 2 months.If tax deposited within due date, than no interest payable (i.e. upto 7 may). If deduction date is 15 april, deposit date 12 may, than interest payable only for 1 month.

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