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It demand under section 220(2)
My bank deducted TDS on payments made to me on FDs. But IT has sent notice to me to pay outstanding demand under section 220(2). If agency deducting TDS has defaulted in payment of TDS to Govt in specified period , why should the Assessee be asked to pay the Demand and not the deducting agency i.e. the bank?
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Section 220(2) states: If the amount specified in any notice of demand under section 156 is not paid within the period limited under sub-section (1), the assessee shall be liable to pay simple interest at 93[94[one] per cent for every month or part of a month comprised in the period commencing from the day immediately following the end of the period mentioned in sub-section (1) and ending with the day on which the amount is paid
You must give reference to earlier notice with complete facts.
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