Tds deducted but not paid

MANI GUPTA (CA) (300 Points)

27 December 2014  
There is a person who paid licensing fees of 2 lacs to a pvt. company after deducting tds on 15th November 2014. Now they have applied for a partnership firm which will be formed by 29th December. now as u know the firm doesn't have a TAN so it can't pay tds before 15th January.. Is there any way to minimize penalty & interest..