TDS DEDUCTION-REG
This query is : Resolved
02 January 2010
MY CLIENT HAD NOT DEDUCTED THE TAX FOR THE INTEREST PAYMENT TO NBFC COMPANY FOR THE FINANCIAL YEAR 2006-2007. WHILE DURING THE SCRUTINY ASSESSING OFFICER HAD DISALLOWED THE EXPENSES AND REDUCED THE LOSS CLAIM . WHETHER HE CAN DEDUCT THE TAX NOW? THAT IS DURING THE CURRENT FINANCIAL 2009-2010. WHETHER HE CAN CLAIM THE LOSS FOR THE CURRENT FINANCIAL YEAR
02 January 2010
No he can't deduct the tax now.
AO is right on disallowing the expenses.
AO is right on disallowing the expenses.
02 January 2010
Yes, according to me tax can be deducted now and on deposition in 2009-10 he can claim the interest expenses which was disallowed on account of non deduction / non deposition of tax in F.Y. 2006-2007. However if the tax is deposited in F.Y. 2010-11 then the expenses will be allowed in FY 2010-11.
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