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TDS-query

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 April 2011 what would be the consequences if certain payment as advence rent has been paid to a party without deduction of TDS but the Expence is not booked in that financial year?? now in the succeding FY it is booked as an expense.
it's very urgent....
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CA. Naveen Bhat

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CA. Naveen Bhat (Expert)
27 April 2011 The TDS has to be deducted on advance rent also u/s 194I. So if you paid advance tax then you have to deduct TDS. So you have defaulted in complying with the provision relating to TDS. However, as you have not booked the expenses there will be no disallowance u/s. 40a(ia)
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