TDS for the year 2009-10 paid in sept 10
This query is : Resolved
06 September 2010
with respect to few bills of jan to march 2010, tds is paid in the return of august. i.e. september 2010
What will be the penalty and interst? will the expense be available as a deduction for the year 2009-10?
What will be the penalty and interst? will the expense be available as a deduction for the year 2009-10?
06 September 2010
TDS to be deductible at the time of payment or credit whichever is earlier.
Interest payable from the earliest of the above date till the date of payment.
Interest payable from the earliest of the above date till the date of payment.
06 September 2010
Bill are credited during Jan,10 To March,10. OK So TDS was also to be deducted on the same time.
Interest @ payment : 1 % of TDS amount per
month till June,10 &
1.5 % of TDS amount per
month from July,10 to
Sept,10
Expenses will be allowed if the ITR is file after the payment of TDS with interest.
Interest @ payment : 1 % of TDS amount per
month till June,10 &
1.5 % of TDS amount per
month from July,10 to
Sept,10
Expenses will be allowed if the ITR is file after the payment of TDS with interest.
06 September 2010
What abt section 40a(1A)? will the expense be disallowed under it?
06 September 2010
If TDS has been deducted in the previous year and being paid now then the expenses will not be disallowed u/s 40(a)(ia).
06 September 2010
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