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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
