We have deposited TDS on 07/01/2012 but cheque cleared on 11/01/2012 and TDS Department has raised demand of Interest for late payment. What is procedure of TDS payment since last date of deposit is 7th and we have deposit the same.
27 February 2012
In the case of PL Haulwel Trailers Ltd 100 ITD 485, it was held that in case of payment of taxes by cheque, the date of presentation should be taken as the date of payment of taxes.