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Due date is a public holiday

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(Querist)
04 October 2008 What will be the consequence if the due date of Making TDS payment is a holiday and payment is made on the immediately suceeding day?
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vinod

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vinod (Expert)
04 October 2008 no consequence
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CA Sudha Bothra

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CA Sudha Bothra (Querist)
04 October 2008 Will it attract interest??
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vinod

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vinod (Expert)
04 October 2008 no
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
04 October 2008 Circular 676 dt14-01-1994 of CBDT reported in 205 ITR (st)330 says if the last date of payment of advance tax is a day on which the receiving bank is closed,the assessee can make the payment on the next working day without attracting interest.If a harmonious interpretation is taken the same circular applies to TDS remittances also. If not interest provisions attract.
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CA. O.P. Agarwalla

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CA. O.P. Agarwalla (Expert)
04 October 2008 General clause Act will apply and accordingly next working day will be treated as last day.
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