Interest on tds

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Arif Ali (Querist)
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15 November 2011 Since TDS deposition has been mandatory for e-payment. then in this case, will TDS deposit date be next day if 7th day of the month is public holiday?

CMA Ashutosh Kumar Gupta

CMA Ashutosh Kumar Gupta (Expert)
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15 November 2011 For the sake of academic discussion, the next working day will hold good in such an event specially with reference to Section 10 of the General Clauses Act 1897 and on the ground of analogy vide IT Circular Number 639 of dated 13.11.1992 as regards return of IT.
However, it would be preferable to avoid any litigation in practical sense to deposit the TDS in such a case one day before i.e. on the day when office is open.

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