Tds calculation

RAJESH CHOUDHARY (Querist) 23 December 2011 This query is : Resolved
Hi kinldy check the calculation on interest on Tds.
Bill Date 8/4/2011 amount Rs. 35000/- on profeesional services.
Tds Amount Rs. 3500/-
Interest Rs. 420 for 8 month Delay if deposited on or before 25 days of December.
TDS IS DEDUCTED

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Shailesh Kr. Shah (Expert) 23 December 2011
absolutely right calculation i.e. 1.5% per month.

RAJESH CHOUDHARY (Querist) 23 December 2011
thanks a lot sirji for the reply...

Raj Kumar Makkad (Expert) 23 December 2011
Interest calculation is wrong. It should have been calculated on the amount of tax only and not on the entire amount of bill.

RAJESH CHOUDHARY (Querist) 23 December 2011
thanks sir for replying

Shailesh Kr. Shah (Expert) 24 December 2011
Makkad Sir,

You are requested to check calculation again. It is perfect.

Thanks
with Regards,

prabhakar singh (Expert) 24 December 2011
1.3500*1.5/100=35*1.5=5.25pm*8=42.00?or

2.3500*1.5/100=350*1.5=52.5pm*8=420.00??

Which one of these two is okay Mr.Shah.???

Shailesh Kr. Shah (Expert) 24 December 2011
@Prabhakar Sir,

calculation is as under:-

(3500*1.5%)*8 =420.

please correct me, if i am wrong?

YOGESH NARANG (Expert) 24 December 2011
I am also agree with Mr. Shah
Tax calculation is right
(3500*1.5%)*8 =420

thanks

Shailesh Kr. Shah (Expert) 26 December 2011
Thanks Mr.Naresh for confirmation my calculation.

Devajyoti Barman (Expert) 29 December 2011
Good work by the experts here.

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