If I paid TDS for Dec 09 on 8th Jan .. Will it be accepted?
WIll the expenses be allowed to take in account?
Abhinav Jain (Manager) (93 Points)
08 January 2010If I paid TDS for Dec 09 on 8th Jan .. Will it be accepted?
WIll the expenses be allowed to take in account?
CA Pramod Jain
(manager finance)
(1577 Points)
Replied 08 January 2010
expenses will be allowed no problems and tds payment will also be accepted.
Satish
(CA Final Student)
(479 Points)
Replied 08 January 2010
Interest will be payable for one month over & above the amount of TDS
lalit mohta
(PCC STUDENT)
(42 Points)
Replied 08 January 2010
Mr. Satish is right. Interest will be applied for one month.
CA Sumit Bansal
(CA)
(75 Points)
Replied 08 January 2010
the expenses will be disallowed if TDS is not deposited till the end of the previous year. Refer Sec. 40a(ia)(b)
but TDS need to be deposited with interest as mentioned earlier by Mr. Satish
Abhinav Jain
(Manager)
(93 Points)
Replied 09 January 2010
Thanks guys. I have made payment of the TDS amount without interest. Can I leave the assessment part on the IT dept.?
Amir
(Learner)
(4016 Points)
Replied 09 January 2010
Dear Abhinav,
As rightly said by Mr. Satish, U Should deposit Interest @ 1% on the amount of TDS...
U can deposit a separate challan of nterest no issues with that..But don't wait for the department to catch u..
CA Amit Kumar
(C.A., CWA Final)
(251 Points)
Replied 09 January 2010
Exp will be allowed and payment of TDS will also be accepted, but u will have to pay interest @ 1% p.m.
anuj dhingra
(Accounts Executive)
(152 Points)
Replied 09 January 2010
say tds be 10000. Rate of int is 1%. Int will be. 100 RS. AM I RIGHT.
anuj dhingra
(Accounts Executive)
(152 Points)
Replied 09 January 2010
| Originally posted by : anuj dhingra | ||
 |
say tds be 10000. Rate of int is 1%. Int will be. 100 RS. AM I RIGHT. |
 |
CA Parag Jani
(BCom CA DISA Forensic Auditor)
(288 Points)
Replied 09 January 2010
yes... interest at 1% per month on TDS Value... viz. Rs.100 on Rs.10,000
obulesu
(CA FINAL)
(77 Points)
Replied 09 January 2010
expenditure is allowed for deduction but interest paid for one month
obulesu
(CA FINAL)
(77 Points)
Replied 09 January 2010
expenditure is allowed for deduction
interest paid for one month for late payment
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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