Tds deposits if due date is holiday
This query is : Resolved
TRIBHUVAN PUROHIT
(Querist)
04 November 2011
Respected Sir,
On 6th Nov. 2011 - there is sunday.
On 7th Nov. 2011 - there is Bank Holiday,
On 5th Nov. 2011 - Bank Half day.
When to deposit the tds.
My senior told me 8th day of Nov. 2011 is acceptable if due date falls on public holiday.
Is it true or not.
Please provide me with valid grounds and sections under which any provisions regarding above laid down.
Awaiting earliest reply.
Thanking you,
TRIBHUVAN PUROHIT
On 6th Nov. 2011 - there is sunday.
On 7th Nov. 2011 - there is Bank Holiday,
On 5th Nov. 2011 - Bank Half day.
When to deposit the tds.
My senior told me 8th day of Nov. 2011 is acceptable if due date falls on public holiday.
Is it true or not.
Please provide me with valid grounds and sections under which any provisions regarding above laid down.
Awaiting earliest reply.
Thanking you,
TRIBHUVAN PUROHIT
04 November 2011
If there is a bank holiday on due date of payment then next day immediately after the holiday is acceptable.
04 November 2011
In above case 8th is due date of TDS deposit......your senior is right
CA Prashant Gupta
(Expert)
04 November 2011
if due date is holiday then next day is due date. in your case 8th
04 November 2011
Reference is cited to the Section 10 of the General Clauses Act of 1897 as well as the same analogy was held vailid by the IT Circular No.639 of dated 13.11.1992. Therefore, if on the last day of prescribed period office is closed the immediately next day when the office is open will be taken as valid.
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