14 November 2014
we have made a provision for expense of 100000 at 31st Mar, 2014 but we had not booked TDS liability in books on 100000 in last year, now tax auditor want that this amount would be disallowed for calculation of income tax. We have reversed the provision on 1st april 2014 and booked the overall and paid the TDS in this financial year. So my question is 100000 would be disallowed in last FY and will be available for computation of income tax for next year? Please reply me as soon as possible.....
14 November 2014
well if you have deducted TDS before filing of the return but for against the FY 2014-15, then expense will be available next year only...
CAclubindia
