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We have deducted TDS on Salary on 30.04.2013 and deposited the TDS on 09.05.2013. For what period the Interest will be charged for late payment of TDS. TDS CPC is asking for 2 months interest. How to contest? |
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It should be one month. Count completed month from date of deduction to date of deposit. Chk section 201(1A). |
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in case of default in deposit of TDS, Interest is payable from the date of TDS Liability. i.e. Provision for TDS. and interest to be deposit for ".....per month or part of the month".
in your case one part of month is considered for april and one part of the month is considered may.
hence interest is to be charged for 2 months. |
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However if you paid salary in the month of May then Liability of TDS deposit is 7 days from date of payment of salary. refer the provision for further assistance. |
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Interest count only one month only |
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It will be for 2 month and it will be calculated as CA Tarun Garg mentioned above. |
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interest count two month |
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