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? Suggest with reagards to above with sections or case laws or notification etc

Posts / Replies

[Rama Krishana]

The language of section 201(1A) is plain and clear. In case of failure to pay tax which was deducted, Interest is payable from the date of deduction till the actual date of deposit for every month or part of the month.