TDS Interest - Professionals - Taxation - TIK Share
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TDS Interest


Rakesh Bharadwaj

2014-05-05

We all know that if TDS remittance is delayed even by a single day, interest is payable @ 1.5% for 2 months, since the interest starts from the date of deduction till date of remittance and part of a month is considered as a full month . So, being the case, if we delay the March month TDS remittance and pay by May , how many months interest is leveiable.

Rahul Rai

2014-05-05

Interest at 1.5% is applicable from due date to till the date of payment. For the quarter ended March 2014, the due date was 30th April. So the interest will be only for 1 month at the rate 1.5%

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Rakesh Bharadwaj

2014-05-06

Rahul Rai

Interest is applicable not from due date , but from the date when TDS was deducted. The law has changed. 

 

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Rahul Rai

2014-05-06

@ Rakesh

The TDS is applicable for both from the date TDS is deducted and also from the date TDS is due.

For the TDS is deducted, Interest is from the date of deduction to date of payment.

And TDS not paid from the due date to date of payment. Even the rate of interest is different for both.

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