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Q. > Please Help: TDS
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1033 views • Question added May 10, 2011 • Income Tax • By Shalu Jain , CA


Please clarify if TDS u/s 194J has been deducted in the month of March however deposited in the month of May. Whether interest will be charged for 1 month or two months.

12 Answers

answered May 10, 2011 by CA.Khurana Vivek , South Delhi

One Month. Last date for depositing the TDS for the month of March 2011 is 30 April 2011.


answered May 12, 2011 by CA.Khurana Vivek , South Delhi

Interest at the rates in force (12% p.a.) from the date on which tax was deductible /collectible to the date of payment to Government Account is chargeable.


answered May 14, 2011 by Madhu Kiran , Hyderabad

One month interest will be levied as penalty....


answered May 14, 2011 by Madhu Kiran , Hyderabad

Now interest rates are 1.5 percent for month


answered Jul 17, 2011 by CA VIKAS JAIN , DELHI

one month interest will be paid


answered Sep 04, 2012 by CA Satuti Mahajan , batala

One month interest is applicable.


answered Dec 07, 2012 by Anmol Goyal , Ujhani


answered Dec 07, 2012 by Anmol Goyal , Ujhani

1.5% per month for one month..


answered Apr 20, 2013 by Rishabh Upadhyay , Chandigarh

1 month


answered May 20, 2013 by Vikash Kumar Jha , Cuttack

Last date of depositing tds is 30th april and if not deposited by due date then after we have to pay interest from the due date to depositing date.


answered May 20, 2013 by Vikash Kumar Jha , Cuttack

Last date of depositing tds is 30th april and if not deposited by due date then after we have to pay interest from the due date to depositing date.


answered Oct 01, 2013 by Vaneet Gupta , Delhi

1 month


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Shalu Jain

10-May-2011 , 03:34:09 am

I know the last date for depositing of TDS for the month of March is 30th April. But if it is not deposited till now than I think two month's interest should be charged as TDS has not been deposited by 7th May also.

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Raj

10-May-2011 , 07:06:29 am

its for one month only.

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krishna Gupta

11-May-2011 , 02:16:07 am

interest is charged for two month if the amount is deposited till 7th of may

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CA Mordhwaj Garg

11-May-2011 , 08:22:55 am

Dear Shalu ji. As per Sec. 201(1A) & 206C(7) - 1 percent per month(or part thereof) simple interest payable from the date of which such Tax was Deductible/collectible. i.e. if TDS deducted on 31 march & paid on May than 2 % interest payable. if TDS deducted on 1 march & paid on after 1 may than interest on delay payment of TDS is 3% (1march to 1april 1%, 1april to 1may 1% & after 1may 1% = 3%)

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CA. Gaurav Agarwal

12-May-2011 , 03:30:51 am

Interest for 2 months will be deposited @1.5% per month

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May I Help You.

12-May-2011 , 08:32:28 am

Gaurav jee, 1.5 % is old rate...

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varun mehra

12-May-2011 , 08:54:00 am

Int. becomes payable from the date Tax was deductible and not from the due date till which tax was due to be deposited.Sec.201(1A).1% from date tax was deductible to date tax deducted.1.5% from date tax deducted to date tax is paid.

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Madhu Kiran

12-May-2011 , 12:53:13 pm

Interest rates are changed from 1% to 1.5% 12 percent to 18 percent per annuam... interest will be charged at this rates

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NAVIN JAIN

14-May-2011 , 02:24:24 am

Interest will be charged for two month @ 1.5% per month See Section 201 (IA)

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CA SUBHASH KR.

23-May-2011 , 09:21:00 pm

Intt on TDS is to be charged for one month @1.5% pm

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RAJESH SINGHAL

26-May-2011 , 10:28:22 am

intt @ 15% will be charged from the date of deduction to the date of actul payment

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riddhi

30-Apr-2012 , 12:15:36 pm

One month interest will be paid @ 1.5 % per month

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