TDS payment date
This query is : Resolved
25 March 2009
sir/madam
plz tell me the last day on which the tds can be paid in order to claim expenditure in profit and loss for financial year 2008-2009 ? TDS is deducted during the whole year but unpaid till 31 march?
plz tell me the last day on which the tds can be paid in order to claim expenditure in profit and loss for financial year 2008-2009 ? TDS is deducted during the whole year but unpaid till 31 march?
25 March 2009
From the date of deduction you should make the payment within 7 days. and for the month March payment before 31st May.
In your case u have deducted TDS but not paid for the whole year, in that case the expenses is not allowable under IT Act.
Only after making payment of TDS you can claim expenses in that particular year when u have paid the amount
In your case u have deducted TDS but not paid for the whole year, in that case the expenses is not allowable under IT Act.
Only after making payment of TDS you can claim expenses in that particular year when u have paid the amount
25 March 2009
Suppose we have paid rent of rs 100000/- per month and deducted rs 20000/- per month on a/c of TDS ,Till Today we have debited Rs (120000*12)14,40,000/- to our P/L A/c . But TDS is not Paid monthly, My Question is this that IS there any way so that i can claim expenditure i am ready to pay it with interest? Still there is five days left in march...
25 March 2009
All tds deducted upto February has to be paid by 31st March for allowance of expenditure. But any TDS dedcuted during the month of March, if paid before the due date of filing the return of income will be allowed as expenditure during the previous year.
25 March 2009
In your case, TDS of 20000 for 11 months, i.e. Rs.220000/- has to be paid with interest before 31st March. TDS of Rs.20000/- can be paid either by 7th April 2009 or before the due date of filing the return of income.
25 March 2009
Deposit TDS of Apr-Feb by 31st Mar with 1% int p.m and for mar due date is due date of filing of return and not 7th apr or 31st may.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
