As TDS is to be deposited by 7th of the next month, but if it is Sunday , can we deposit it on 8th of the next month
DOes it amount to default made as per provision of Income Tax Act, 1961
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TDS Deposited Late
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| Originally posted by :Bhawna | ||
| " | As TDS is to be deposited by 7th of the next month, but if it is Sunday , can we deposit it on 8th of the next month DOes it amount to default made as per provision of Income Tax Act, 1961 |
" |
No default. If the due date is public holiday then it can be deposited subsequent day of such holiday...
If due date is a public holiday then TDS is required to be deposited upto a day before due date.
thus the due date in this case will be considered as 6th and interest @ 1% is to be deposited.
Regards,
CA Ritesh Kothari
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