Please Help: interest position on late payment of tds

CA Sanjay Mangal

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.