22 February 2011
If deducte deducts short TDS in financial year 2008-09 on account of legal & professional charges, but deducts full amount in current year. Can the deducte claim deduction of expenses in current year?
22 February 2011
no, tds shud b deducted in same year only when its accrued
Querist :
Anonymous
Querist :
Anonymous
(Querist)
22 February 2011
but I think according to section 40(a)(ia) expense can be claimed in the year of deposit of TDS? Please refer the section & clear me also on this point.
23 February 2011
As per your query Short TDS is made in F.Y.2008-09,Whether the Deducted TDS deposited in 2008-09 or within time allowed & proportionate expense disallowed while filing Return of Income ? If yes then, you can deducted the short amount this year & deposit the same & get the benefit proportionately (related to short Deduction).