TaxTMI 
TaxTMI 
Provision of adjustment - tds liability
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....rovision of adjustment - tds liability<br> Query (Issue) Started By: - shatrughan sinha Dated:- 8-6-2009 Last Reply Date:- 9-6-2009 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear Sir Suppose we have ....
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....Tds liability of Rs 100 & Interest thereon is Rs 20 & We have paid Rs 115 for that. Now my question is whether Rs 115 paid will be first adjusted towards Interest of Rs 20 & balance Rs 95 will be adju....
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....sted against principal amount or vice versa. Kindly clarify,giving the provision of Tds law. Regards Shatrughan (RLE India Pvt Ltd) Reply By Dinesh Gupta: The Reply: As per the provisions of Income T....
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....ax and TDS, interest is a simple interest. Therefore, you need to adjust the amount of TDS first out of Rs. 115 and interest thereafter with the remaining amount. The balance amount of interest should....
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.... be deposited as Interest.<br> Discussion Forum - Knowledge Sharing ....