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last date of deposit of tds

ARCHANA SAINI (Chartered Accountant) (163 Points)

24 July 2007

hi, i m working as a account excecutive. by mistake i deposited tds of march month on 1 june. later i came to knw that last date of deposit of tds of march monrh is may. can anyone tell me that the whole amt on which we deducted tds is disallowable or nt

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6 Replies

Arul Prabu (Chartered Accountant) (53 Points)
Replied 24 July 2007

Hai 31st may is the due date for TDS on Provision made on 31.03. If u have not paid within the due date then the entire amount is disallowed as per Section 40a. TDS on salalry will not come under this section therefore if u have paid after the due date also,it wil be allowed.

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Shyam Lal Naik (Service) (6156 Points)
Replied 25 July 2007

How ever, the expenses disallowed will be allowed as business expenditure in the next asst. year

(Guest)

1. Due Date of Mar TDS TDS deducted from

M.Sriram Shenoy (CA Final) (814 Points)
Replied 25 January 2008

If the TDS relates to Salary, then there will be no disallowance.But if it is for any other expenditure, then whole of the expenditure will be disallowed.