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Notice of Demand u/s 156 on a delayed basis

Started by Vinay Surana, August 22, 2012, 01:22:17 PM

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Vinay Surana

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

probal_shome

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.

shobha nagrani

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.

Vinay Surana