Due date is a public holiday
This query is : Resolved
CA Sudha Bothra
(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?
CA Sudha Bothra
(Querist)
04 October 2008
Will it attract interest??
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.
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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