Tds

This query is : Open

Gautam Chamaria (Querist)
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14 October 2017 TDS was not deducted in P.Y. 16-17 , but was deducted and paid on 31 May 2017. Is the expenditure allowable in P.Y. 16-17?
Pls provide answer as per Section 40(a)(i) of the Income Tax Act.
Thanx..

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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15 October 2017 If TDS deducted on 31st march 17 and paid on 31st May 17 (i.e. before the date of filling the IT Return) than expenditure allowed But If TDS deducted on 31st May 17 and paid on 31st May 17 (i.e. before the date of filling the IT Return) than 30% of the expenditure will be disallowed in FY 16-17 and the same will be allowed in FY 17-18 Note: The above provision is related to deduction of TDS for Resident