Tax

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As per Sec-40 Income tax act Expenses disallowed if TDS not deducted & paid .. But if it is paid after filling date i.e 30 sept can it be allowed as expenses ??? please reply
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Allowed In The Next FY . For Example TDS for FY 2014-15 You Have Deducted In The Month of March 2015 But Paid In November 2015 Then It Will Be Allowed In The FY 2015-16

30% will be disallowed in the FY2014-15 and the same will be allowed in the FY2015-16, if TDS deposited between 01-10-2015* till 31-03-2016.

*Note: Due for filing return of income extended up to 31-10-2015. Hence it is from 01-11-2015

Thanks

 

Sanjit kr.


CCI Pro

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