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
2 Replies
Chetan D.
(Management Accountant)
(89 Points)
Replied 19 November 2009
| 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...
RITESH KOTHARI
(B.COM, FCA, DISA(ICAI))
(778 Points)
Replied 19 November 2009
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
Recent Topics
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
- Taxability of income in USA of resident oci holder
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
Related Threads
CAclubindia
