filing of return U/s 139 (1)
This query is : Open
08 December 2010
Sir,
Consider the example :
Mr X is a assessee whose due date is 31st July u/s 139(1).
He deducts TDS on 31st March,2010 but does not pay it. He wants to file return on 5th June, 2010. He will pay the TDS with interest before 31st July.
My question is 'What is the allowability of the expense on which TDS is made ?' because u/s 40 ia its mentioned that if tds is paid before the due date u/s 139(1) then the expense shall be allowed for that A.Y.
so in above example i want to file return on 5th june but for TDS payment i have time till 31st July.
Please clarify the matter at the earliest.
Regards,
Karan Joshi
Consider the example :
Mr X is a assessee whose due date is 31st July u/s 139(1).
He deducts TDS on 31st March,2010 but does not pay it. He wants to file return on 5th June, 2010. He will pay the TDS with interest before 31st July.
My question is 'What is the allowability of the expense on which TDS is made ?' because u/s 40 ia its mentioned that if tds is paid before the due date u/s 139(1) then the expense shall be allowed for that A.Y.
so in above example i want to file return on 5th june but for TDS payment i have time till 31st July.
Please clarify the matter at the earliest.
Regards,
Karan Joshi
09 December 2010
In my opinion, the expense is allowable only if you have paid the TDS before filing of return.
09 December 2010
yes agree with deepak.
09 December 2010
but the words used in sec 40 are 'due date as per 139(1)'..!!
so for the purpose of this section the words due date shall be interpreted as:
'due date' means due date as per section 139(1) or actual date of filing of return of income whichever is earlier.
am i correct ?
Also, can we go for revised return afterwards ?
please answer at the earliest
Regards,
karan
so for the purpose of this section the words due date shall be interpreted as:
'due date' means due date as per section 139(1) or actual date of filing of return of income whichever is earlier.
am i correct ?
Also, can we go for revised return afterwards ?
please answer at the earliest
Regards,
karan
09 December 2010
we also have to think the complication arise in future due to filing of return before making TDS payment.
10 December 2010
Mr . Karan , ur point of " whichever is earlier " is correct ...
But u can allow the expense only if u have paid TDS before filing of Return ..
& May i know wats the reason of filing it on june 5th
But u can allow the expense only if u have paid TDS before filing of Return ..
& May i know wats the reason of filing it on june 5th
11 December 2010
i m proposing the doubt with help of an example !!
i think there is some error with this section i suppose ??
please clarify it in detail with bare act portion and if available please give the case laws , if any.?
reply soon please coz its getting complicated.
i think there is some error with this section i suppose ??
please clarify it in detail with bare act portion and if available please give the case laws , if any.?
reply soon please coz its getting complicated.
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
- Query Regarding on TDS section 194H and 194J
- NR GST NUMBER
- Fixed Deposit Claim Relinquishment by the Nominee
- Applicability
- ITR 6 Schedule CFL and UD Issues
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- GST Form ADT-02
- TDS RATE ON RENT PAID TO NRI
- Form - 26BQ
- Companies Act FA Excel
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
