Poonawalla fincorps
Poonawalla fincorps

Tds

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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
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
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.
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Guest

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Guest (Expert)
24 August 2011 yes expenditure will be allowed
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
24 August 2011 yes. expenditure will be allowed

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