Date of deposit for e-payment of tds?

I have received a notice from TDSCPC u/s 200A for late deposit of TDS.

 

The issue arise since the payment was made online on the 7th of October as per the rules, but the challans was generated the next day with the date as 8th October.

 

So the TDSCPC has claimed late payment interest of 1.5% for every part of the month till acutal deposit on 8th October. Thus the interest is a whopping 3% for a single day of 'delay'.

 

I have searched online and found some case studies where the assessee has successfully argued that the date of tender of a cheque(subject to realization) should be considered as date of deposit of tds. This is based upon sections quoted from the Negotiable Instruments Act.

 

However, I am unable to find any cases dealing with due dates for e-payment of TDS. Although I would not mind fighting if my stance is right, I would like some advice if my stance is tenable legally.

 

If not, is it atleast possible to reduce the Interest amount as it seems quite high and I have been regular in TDS payments all these years.

 

Thanks in advance.

Replies (4)
Have u deposited the tds amount after 8 p.m. On 7 th of october....?? Bcoz payment made on or after 8 p.m. Is regarded as payment made on nxt day..
Originally posted by : Ravinder Singh
Have u deposited the tds amount after 8 p.m. On 7 th of october....?? Bcoz payment made on or after 8 p.m. Is regarded as payment made on nxt day..

 

I have made the payment around 11.30AM on the 7th of October. I also have the transaction confirmation page saved as proof for time and date of payment.

sir,

due dates of tds in case of payment made by e-payment and incase of payment made by cheque 

Dear sir/Madam, 
 
Tds Payment for the month of Nov-14 we are made on 8th dec instead of 7th dec, due to 7th dec is on Sunday came. Is there any compliance issue or any interest is coming. Please if available notification this related pls fwd/ suggest me.
 
Regards 
Udaykumar
+91 9742416512

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