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Query related to tds

ANJALI NEGI (Chartered Accountant) (1263 Points)

15 October 2012

Greetings of the day to all....

I have a query. If a person has not deducted TDS on certain nature of expense then is that expense disallowed while computing the taxable Income ???????????????????

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12 Replies

Ankit (CA, CS) (3064 Points)
Replied 15 October 2012

yes it is liable to be disallowed

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ANJALI NEGI (Chartered Accountant) (1263 Points)
Replied 15 October 2012

Dear Sir can you give me reference of any section

CA Pooja Agarwal (Chartered Accountant) (3228 Points)
Replied 15 October 2012

refer section 40(a)(ia)

Ankit (CA, CS) (3064 Points)
Replied 15 October 2012

it is section 40a

Arun Kumar (Article Assistant) (83 Points)
Replied 15 October 2012

Yes, it will be disallowed u/s. 40(a)(ia).

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Varshit Shah (Self Employed) (676 Points)
Replied 15 October 2012

Dear Anjali ,

If such default is related to this FY i.e 2012-13 then it will not be disallowed as per amendment made to sec. 40(a)(ia). But for this you have to obtain a CA certificate from deductee that he has considered the such income & paid tax by way of Advance tax or S.A.tax. (Amendment by Finance Act 2012 )

But if it is in respect to earlier years , then it will disallowed if TDS not deducted. But if you will deduct and pay such amount in subsequent year , then such disallowed expense will be allowed in the year of pyament of TDS.

3 Like

ANJALI NEGI (Chartered Accountant) (1263 Points)
Replied 16 October 2012

very well explained Varsh*t...Thanks!!

1 Like

manoj Kumar (Sr Accountant) (49 Points)
Replied 19 October 2012

Dear Seniors,
Hope you are doing good...
Please help me for etds filing in RPU 3.1,
i have fill all details in RPU 3.1, but file not saving in csi formet,
also below error came
i dont know how to rectifiy the error
"T-FV-1041 Import the challan file downloaded from TIN website under Challan Status Inquiry."
also how much penality for late etds filing?
please advice to me how to rectiffy the error
i dont come any errors from RPU previous verson.
Please give your valuable adivce,
i am waiting for ur advice

Varshit Shah (Self Employed) (676 Points)
Replied 19 October 2012

Dear Manoj ,
From this Quarter they have introduced new RPU 3.1 under this you also have to match your challan file (ie. CSI file ) downloaded from TIN-NSDL. It is mandatory to verify.

Procedure :

1.) Go to TIN website
2.) Click on Challan Status Inquiry
3.) Select TAN Based View
4.) Provide details asked in the window.
5.) At the bottom of the table you will see an option "Download CSI File" - Click on this option.

Your CSI File will be downloaded.

Now open RPU and select type of return.

Now , click on "Create File" in RPU 3.1 after entering all the details. Now in the opened window , you will see three options.

Under option 1 - Select the CSI file
Under option 2 - Select the file you got by email ( Correction wala- if any )
Under option 3 - Select the folder where you want the FVU or the error report.

Follow this step. I m sure your problem will get solved. It will not more than 15 minutes to follow all the steps i have mentioned.

Regards

Varsh*t Shah

1 Like

chandrasekaran e (Accounts Incharge) (29 Points)
Replied 12 December 2012

Dear Sir,

My name is Chandrasekaran from chennai

Very much thanks to Mr. Varsh*t Singh

For helping E-tds return purpose.

1 Like

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Varshit Shah (Self Employed) (676 Points)
Replied 12 December 2012

Dear Mr.Chandrasekaran

Sir we are here to share and update our knowledge. It feels very nice when suggestions given by me are helpul in solving the problems faced by professional friends. Thnks sir for appreciating my suggestion.

Anuj jain (CA Final Student) (163 Points)
Replied 12 December 2012

yes it will be disallowed upto assessment year 12-13. But if the default is made in relation to assessment year13-14 , then it will not be disallowed subject to some conditions specified U/S 40(a)(ia).

If TDS is deducted but not deposited before the due date of submission of his return of income, then no relief is given by the act and it will be disallowed. No amendment has been made in this case.