Period for which Intrest to be calculated U/s 201, Income Tax

[Venkateswararao Sunkara]

Sir, Please tell us intrest period in the following example: Financial year 2008-09 Date of deduction of tax 31.03.2009 due date for deposit of tax for entries passed on 31.03.2009 - 31.05.2009 TDS deposited in the month of Sep-09 Should we calculate TDS from April-2009 or June -2009? Thanking you

Posts / Replies

[GOPALJI AGRAWAL]

It would be calculated for delayed period only.

[Venkateswararao Sunkara]

With reference to your reply please give us any reference section or case law or any circular or notification with your comments. Since most of us taken stand for calculation from the date of April month it self ( as per the example)

[Rama Krishana]

The provisions of section 201 are plain and clear, in case of delayed deposit of tds deducted earlier, interest is payable from the date of deduction.