Late deduction of tds and accounting of same n books

Deepak Jain (Article Trainee) (80 Points)

27 August 2013  

Hey guyzz,

While carrying out Tax audit , i Have an query regarding late deduction of Tds on Rent. Its came to my  knowledge during Tax audit for F.Y.2012-13 relevant to A.Y.2013-14 of a partnership firm.

Question is that auditee has not deduct TDS on rent paid for F.Y.2012-13 amounting to Rs. 1,94,400/- Now as on 15.08.2013 they deduct and pass entry on 31.03.2013 for TDS payable on Rent. and they deposit in government account on 15.08.2013. Now 1st they have to file revised TDS return for last quarter and my query is......

" whether this TDS allowed in F.Y.2012-13 (31.03.2013) or F.Y.2013-14(as deposited  on 15.08.2013)"

Experts opinion..................!!!!!