Please Help: interest position on late payment of tds
Posted Date : 14-May-2012 , 11:13:42 am | Posted By: Himanshu Mittal
Category :
Income Tax | Answers :
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can you explain interest position on late payment of tds with example??? |
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| Posted By : CA Sanjay Mangal |
16-May-2012, 09:10:30 |
| 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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