delay indeposit-interest

This query is : Resolved

S.RAMAMURTHI (Querist)
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03 October 2010 WE HAVE PAID 194C -TDS ON 08/06/2009 (MONDAY)FOR THE MONTH OF MAY2009.
DEPT. DEMANDS INT.FOR ONE MONTH FOR 1 DAY DELAY.
QUERY
SINCE DUE DATE FALLS ON SUNDAY OUR PAYMENT MADE ON NEXT WORKING DAY IS CONDONABLE/PERMISSIBLE

venkatraman shrinivas

venkatraman shrinivas (Expert)
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04 October 2010 When the due date fell on a holiday, payment can be made on the next working day. Section 10 of the General Clauses Provides this exemption. You may point out to the Assessing Officer that in view of the provisions of the General Clauses Act, with particular reference to clause 10 thereof, the payment should be deemed to have been made well within the due date. Accordingly no penal interest under section 201(1) can be charged.

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CA. abhinav kumar

CA. abhinav kumar (Expert)
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04 October 2010 Agree with Mr Venkatraman

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