Friends
Having received Notice under section 201(1) for FY 0708, apparently, for 26Q, there are some facts not in order. I wanted to confirm with you all if I am correct. I would love to be wrong.
The ITO (TDS) has demanded interest on late payment of TDS. The facts and dates are:
DOP = 07/05/2007 , - Date of deposit == 11/06/2007, Month of default = 2 . In my view incorrect. Default should be 1m.
DOP = 10/05/2007 , - Date of deposit == 11/06/2007, Month of default = 2 In my view incorrect. Default should be 1m
DOP = 15/05/2007 , - Date of deposit == 11/06/2007, Month of default = 1 Correct
DOP = 31/03/2008 , - Date of deposit == 07/05/2008, Month of default = 2 Here due date is 31/05/2008. How default ?
What action is required from company's end. Kindly share your experiences.
Regards,
CAclubindia
