Pankaj (Manager) (288 Points)
10 April 2012Dear all
I have a problem, please help in this matter :
In this month, Assessing officer has disallowed some expenses due to non deduction of TDS for F Y 08-09 & A O has given challan of income tax on above expenses. After that, assesses has deposited same income tax also he has deposited TDS on above expenses. In this case , will such expenses be deductable in the year in which TDS is deposited. TDS return should be submitted or not , if yes then for which year.
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 10 April 2012
If an expenditure is debited to P&L account but no TDS is being made & deposited to the govt a/c then suhc expense is disallowed in the eyar to whihc the expense relates. however the expense is allowable in the year whne TDS is deposited to the govt A/c
TDS return for F.Y. 08-09 should be filed & the applicblae penalty should be paid.
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
