Regarding TDS
This query is : Resolved
01 June 2008
dear sir,
i could not pay the TDS for the last quarter of 07-08. i paid the said TDS on the 1st Apr.08. now my CA is telling me the entire amount of the transportation on which we can't pay the TDS will be disallowed and be added in the income.
on transportation of Rs. 1Lac i have to pay the TDS. now the CA is telling the entire Rs.1Lac will be added in the income not the TDS Liability which i could not pay.
please let me know what is the rule?
i could not pay the TDS for the last quarter of 07-08. i paid the said TDS on the 1st Apr.08. now my CA is telling me the entire amount of the transportation on which we can't pay the TDS will be disallowed and be added in the income.
on transportation of Rs. 1Lac i have to pay the TDS. now the CA is telling the entire Rs.1Lac will be added in the income not the TDS Liability which i could not pay.
please let me know what is the rule?
01 June 2008
no, it is not disallowed.
as per sec 40 (a) (ia) ,u can deposit the tds amount upto the date of filing of return as per the recent amendment.
as per sec 40 (a) (ia) ,u can deposit the tds amount upto the date of filing of return as per the recent amendment.
02 June 2008
Yes.
As per the new Finance Act 2008 the TDS can be deposited till the date of filing Return u/s 139(1). But interest is also be required to deposit.
This provision has retrospective effect w.e.f. 01-04-2005
As per the new Finance Act 2008 the TDS can be deposited till the date of filing Return u/s 139(1). But interest is also be required to deposit.
This provision has retrospective effect w.e.f. 01-04-2005
02 June 2008
You have paid TDS for the last quarter on 01/04/2008.
Expenses relating to Jan'08 & Feb'08 will be disallowed in AY 2008-09. This will be allowed in the AY 2009-10.
Expenses relating to Mar'08 will however be allowed in the AY 2008-08.
The circular referred to in the earlier answers applies only for tds deduction during March'yy.
Expenses relating to Jan'08 & Feb'08 will be disallowed in AY 2008-09. This will be allowed in the AY 2009-10.
Expenses relating to Mar'08 will however be allowed in the AY 2008-08.
The circular referred to in the earlier answers applies only for tds deduction during March'yy.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
