24 August 2011
I have deducted TDS on contract on 9-8-10 of Rs. 9111 but the TDS is deposited on 7-4-11....will the Expenditure be disallowed as tds deducted till FEb,11 should be deposited till March,11
24 August 2011
Yes the expenditure will be allowed as TDS deposited before the last date of filing income tax return. But you are subject to penalty u/s 221 for late deposit of TDS.