14 October 2011
in the F.Y. 2010-11 I FORGET TO DEDUCT tds on royalty payment & same is not deposited into Bank account. Royalty payment made in F.Y.2010-11. This matter came to know in F.y.2011-12. what i have to do ?
14 October 2011
The royalty payment amount will be disallowed as expenditure in the FY 2010-11. Deduct TDS and pay immediately the tax and claim the amount of royalty paid as expenditure in the year of payment of TDS.
CAclubindia
