DELAY DEPOSIT OF TDS

This query is : Resolved

sumit bhartia (Querist)
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26 May 2009 First i have dedcuted TDS in Sept 08 and deposited TDS amount in June 2009 along with interest 94C

Will the expenditure be doisallowed as there was late payment

Secondly i have deducted TDS on 31 st March and deposited TDS in July 2009 along with interest

Will the same be allowable or disallowed by income tax due to late payment

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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26 May 2009 In first case, the Expenditure shall be disallowed in FY 2008-09 and shall be allowed in FY 2009-10.

In second case, the expenditure shall not be disallowed and can be claimed in FY 2008-09 itself.