Late deposit of TDS

Interest on late deposit of TDS is applicable @ 1.5 % per month or part thereof. The period for delay is taken from date of deduction to date of deposit. So, in specific cases a delay of one day may lead to pay interest @ 3 % . Suppose: TDS deducted on 01.08.13. In this…

Income Tax
TDS
TDS Rates

Penalty on Non deduction, late deduction and late deposit of TDS

TDSMAN12 years ago2 years ago309 mins

Non deduction, late deduction and late deposit of TDS may lead you to face following consequences: Interest on late deduction /deposit of Tax at source. Dis-allowance of Expenses, on which tax has not been deducted /deposited u/s 40(a)(ia) Penalty and prosecution.(271C and 276B) I. Interest on late deduction and delayed deposit of…

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Interest on late deposit of TDS – 3 % for delay of one day

Penalty on Non deduction, late deduction and late deposit of TDS