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TDS

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(Querist)
05 June 2009 If the TDS of March,09 deposited on 05/06/2009 the the expenditure would be allowed in financial year 2008-09 or not
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chetan soni

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chetan soni (Expert)
05 June 2009 yes this will be allowed as per sec 40(a)(ia) but you need to pay the interest as per chapter XVIIB of income tax i.e as per the provisions of tds. Interest rate will be 1% per month. It also included part of the month also.

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