If Tds Deposit Date is sunday?

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This query is : Resolved

Naveen Ahlawat (Querist)

10 September 2010 R/Sir/Mam,

We know that the TDS deposit last date is 7th of following month but my query is IF on the 7th of the following month is sunday or holiday so we can deposit the TDS amount on next following working day or Preceding day as per law.

Please tell me ASAP with the notification no. as well.

Warm Regards,
Naveen Kumar

CA Sanat Pyne

CA Sanat Pyne (Expert)

10 September 2010 Yes you can deposit(manually) on the next day . For epayment you have to deposit on or before 7th of the following month.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

10 September 2010 Agree with Mr.Sanat Pyne ,Now The TDS payment by E-Payment this problem may not arise

Naveen Ahlawat

Naveen Ahlawat (Querist)

10 September 2010 R/Sir,

if we are deposit tds manually so i want to know there is any notification by Income tax depatment for deposit the tds on next working day.

Please provide me the notification no. or link for notification.

Warm Regards,
Naveen Kumar

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

10 September 2010 CBDT has clarified in its Circular No 676 of January 14, 1994, that if the last date for payment is a holiday, Section 10 of the General Clauses Act, 1897 will be applicable and, accordingly, the assessee can make the payment on the next immediately following working day and, in such cases, the mandatory interest leviable under Sections 234B and 234C would not be charged.

Naveen Ahlawat

Naveen Ahlawat (Querist)

10 September 2010 Thanks for the quick solution sir.

Warm Regards
Naveen Kumar

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