Ineterst on 1 Day Delay of payment on 8th

This query is : Resolved

Jiten Shah (Querist)
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08 February 2009 Dear,
Can any one tell that interst required to pay for one day delay due to techinincal reason of Online payment

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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08 February 2009 In Income Tax, u will have to pay interest for 1 month if delay is of even 1 day.

Azmathullah Khan

Azmathullah Khan (Expert)
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08 February 2009 Yes u have to pay TDS along with 1% interest even 1 day delay, what ever the reason

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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08 February 2009 If there is a vaild reason then you need not pay interest.

For eg you have to pay through internet bankiing and there was a problem in the website which is agreed by the Bank then you can take benefit of not paying interest.

Alternatively you have to pay cash and the Bank is on strike or holiday then you can pay on the next day.

When the ao demands you have file objections and reasons and you can take benefit by not paying the interest.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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10 February 2009 I think u should better pay the amount with interest because there is no supporting in law to delay payments on account of technical errors and then justify the ITO.

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