21 June 2008
As per Sec.197 tax has been deducted at Concessional rate to a limit provided by deducting authority what happen if tax continues to be deducted at concessional rate. and in next FY it has been deduted for balance tax & has been deposited. When the expenses will be allow prevailing of Last FY.
22 June 2008
if less tax is deducted then proportionate exp will be disallowed. & if short tds, deducted afterwards & deposited upto date of filing of return then the exp will be allowed as per the recent amendment.