TDS
Querist : Anonymous
Suppose a provision for auditors remuneration is made in the month of March 2010 but TDS is not deducted and not paid till 31st may 2010 but it has been deducted when the bill is received in the month of June and paid in same month,so it is paid and deducted before 30th sept.2010 so whether it will be disallowed in FY 2009-10 or it will be allowed in the same year eventhough TDS is Deducted when bill is recvd. but it is paid before 30/09/10. Plz give section also
Refer section 40(a)(ia).
TDS should have been deducted in the last year only though paid now to be allowed in the last year.
In that case, if the TDS is deposited before sept,10 alongwith applicable interest for late deposit, then this expenses would have been allowed for FY 2009-10.
In the current scenario, this exp will not be allowed, though, it can be claimed in FY 2010-11
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
provided that where in respect of any sun tax has been deducted in any subsequent or has been deducted during the PY but paid after due date u/s 139(1) such sum shall be allowed as a deduction in the PY in which tax has been paid
So read the PROVISO carefull it clearly brings out the FACT that u may deduct tax in subsequent year in respect of Exp booked earlier but same should be paid before 30th sept
Querist : Anonymous
Querist : Anonymous
93[Provided that where in respect of any such sum, tax has been deducted in any subsequent year, or has been deducted during the previous year but paid after the due date specified in sub-section (1) of section 139, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.]
Querist : Anonymous
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