06 May 2016
interest payable u/s 201 for late deduction & deposition in case of govt. deductors tds deducted & deposited on payment to contractor through treasury on dt 13/01/2016 as per treasury detail and bin view mentioning the same in on dated 31/01/2016. whether interest liability will arise u/s 201 ? and why? who is resposible for liability deductor or treasury?
07 May 2016
Govt. dept are using cash basis system. As per your query you have to show payment & tds deduction on 14/01 and tds deposited on 31/01 as per your BIN.
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