I have received notice from TDS dept for payment of interest on late deposit of TDS for financial year 2009-10.
I hade deposited TDS on 29.05.2010 on the amount credited at the end of financial year i.e. 31.03.2010
As per details provided by income tax dept, that the amount credited at the end of financial year i.e. 31.03.2010, you are liable to deposit TDS amount by 07.04.2010. Hence, you have made payment of TDS by 2 months late and liable to pay interest @ 2%
I think the due date of deposit of TDS in FY 2009-10 on credit amount at the end of FY 2009-10 was 31.05.2010.
Please let me know, when the rule has changed and what reply should I give to I. Dept.
CAclubindia
