Dear Sir
I have received a notice of demand u/s 156 for interest payments on late deposit of TDS for the FY 11-12.The service date of the notice is 17/07/2012 and it should be paid within 30 days otherwise a penalty will applicable.I have recevied the notice only on 16th Aug 2012 in my office.
Now what should i do with it.Please guide me on this
If the demand is not disputed, why don't you pay it off and stop further interest from accruing. Penalty will not be levied for a delay of a couple of days.
If you are not agreeable with the tax demand, you must file a stay application asking for a stay. You can an article here on the legal aspects of that.
http://www.itatonline.org/articles_new/index.php/the-law-of-tax-recovery-recent-important-case-laws/
But you should not ignore the notice because then AO may resort to coercive steps and penalty for non-payment.
Thank you for the guidance !!! 8)