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due date for payment of tds

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(Querist)
17 November 2008 hi

The due date of payment of tds is 7th of the following month, but i have deposited my tds at bank on 8th of the month, and the bank gave me the deposit date of 8th.
the date of clearing is 11th .
am i liable to pay interest for the delay payment of tds??
and which date is applicable for the payment of tds (as per income tax act)whether deposit date or claearing
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CA Pawan Goswami

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CA Pawan Goswami (Expert)
17 November 2008 Yes you are liable for interest @ 1%.
Date of deposit is 8th of the month.
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Ravikumar.G

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Ravikumar.G (Expert)
17 November 2008 per month interest rate is 1% even if it is part thereof.
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