CA Amit Jaiswal (Finance Manager) (2720 Points)
02 April 2010
TDS on interest for the Financial Year 2009-10 has not been deducted. How can it be rectified, so that the expense amount can become allowable.
Can it be paid alongwith interest upto 30th September 2010
Ashish Sharma
(Service)
(1028 Points)
Replied 02 April 2010
nilesh dube
(Service )
(74 Points)
Replied 02 April 2010
Dear Amit,
Due date for TDS deposit
TDS deductible and deducted up to feb 2010 - Before 31st March,2010
In the above case if TDS deposited after 31st march, 2010, expenses can be claimed in the FY 2010-2011 , if deposited in FY 2010-11.
TDS deductible and deducted in the month of march - before the due date of filing the return.
In the above case if TDS deposited after the due date of filing the return - expenses can be claimed in the FY 2010-11., if deposited in FY 2010-11.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 02 April 2010
The Finance Bill 2010 has proposed to amend section 40(a)(ia) for allowing deduction for expenses on which TDS is paid upto the due date of filing return w. r. e. f. 01.04.2009. So no dsiallowance in your hands if TDS paid before 30.0910.
CAclubindia
