Tds

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Priti (Querist)
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27 April 2012 Hi Expert

My Doubt is regarding TDS . My Client A PVt LTd Co has meade payment to advertising without deducting tds on 11.4.2011 .so now if i deduct tds and make paayment by 30/04/2012 den expenses is allowed as deduction in FY 2011-12 ? or FY 2012-13. ???
Plssssss Help

Mihir Doshi

Mihir Doshi (Expert)
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27 April 2012 Dear Priti,

You can pay it by 30th April 2012 but did you make provision or book the expenditure before March end???

Priti

Priti (Querist)
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27 April 2012 I HAD BOOK FULL EXPENDITURE INAPRIL IT SELF....NOW CO IS READY TO PAY TDS FROM ITS POCKET ... SO DEDUCTION WILL BE ALOOWED IN FY 11-12 ??

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Mihir Doshi

Mihir Doshi (Expert)
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27 April 2012 Dear if you have booked the Expenditure in april they why do you worry about FY 2011-12.....

You have time till 7th May 2012 to deposit tax because your case fall in FY 2012-2013 and you would get the deduction in 12-13 only.

If the case is for March, then you would have claimed the deduction for 2011-12.

Hope idea is clear in your mind

Thanks
Mihir Doshi

Priti

Priti (Querist)
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27 April 2012 HIII MIHIR ..

Co had book the Expenses in April 2011 n paid the amount with out deducting TDS

It is April 11 not April 12 ....

Advice accordingly ...

Thanks lot

Mihir Doshi

Mihir Doshi (Expert)
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27 April 2012 Priti,

You have booked the expense in April 2011 but didnot deduct TDS as well paid to IT.

Now, simply deposit the TDS amount with interest of 1.5% p.m. to IT department from April 2011 to May 2011 to April 2012 i.e. 12 months.