Intimation under section 200a

JINESH MEHTA (Chartered Accountant -Partner) (308 Points)

08 July 2013

Dear all,

I have received Intimation under section 200A for one of my client for interest on late payment on TDS.

I have checked justification report and it is 2 days late payment but interest is calculated @ 3% considering two months.

As per my view i need to make payment and than file a correction statement for the same quarter.

Please tell me what is a procedure to be followed against this notice of demand under section 156?

Thanks,

Jinesh

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C.A. Jignesh N. Mehta (C.A.) (1030 Points)
Replied 08 July 2013

I have checked justification report and it is 2 days late payment but interest is calculated @ 3% considering two months.

If you provide with exact details then we can say whether 3% is correct or not.

The provisions are clear, interest is payable from date of deduction to date of payment (month or part of month) - Hence actual dates are required.

Procedure to be followed against this notice of demand under section 156 as under:

Pay the interest and upload the corrected return with traces / NSDL.

Post which your default will be cleared.

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