18 July 2013
Theres one field in 3CD > 27(b)(iii) which asks for tds deducted late. My querry is my client has paid and filed tds returns after 31/03/2013, so can this be said as tds late deducted. (how shall one prove that tds was deducted but not paid, mere book entries shall suffice)
18 July 2013
Dear Rahul TDS Required to be deducted at time payament or date of credit (Booking of Bill) which ever is earliest.
You Have to just mention these instance of failure in tabular form under clause no 27 b
In case default made in advance payment there is no confusion about whether TDS late deposit or not.
However in case of default made in crediting the party (by not taking bill into books of account etc.even at the end of the financial year. in that case in the next year this expenses will allowed as deduction under section 37, but still TDS liability still as mentioned earlier
CAclubindia
