Contents in notice under section 201(1)

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com )   (3468 Points)

17 January 2012  

Friends

Having received Notice under section 201(1) for FY 0708, apparently, for 26Q,  there are some facts not in order. I wanted to confirm with you all if I am correct. I would love to be wrong.

The ITO (TDS) has demanded interest on late payment of TDS. The facts and dates are:

DOP  = 07/05/2007 , - Date of deposit == 11/06/2007, Month of default = 2   . In my view incorrect. Default should be 1m.

DOP  = 10/05/2007 , - Date of deposit == 11/06/2007, Month of default = 2     In my view incorrect. Default should be 1m

DOP  = 15/05/2007 , - Date of deposit == 11/06/2007, Month of default = 1     Correct

DOP  = 31/03/2008 , - Date of deposit == 07/05/2008, Month of default = 2     Here due date is 31/05/2008. How default ?

What action is required from company's end. Kindly share your experiences.

Regards,