Tds on provision for exp - sec 40 (a)(ia)

Sadanand (ca) (50 Points)

10 August 2011  

 

Dear Members,

We are in construction business and at the year end ( 31.03.2011) we have made provision for contractors bills based on the work completed, but in billed in  May - June '11.

Supposing we deduct and remit the TDS on provision now ( Aug '2011) & remit the challan as TDS for AY 2012-13, would it be  sufficient compliance of Sec 40 (a) (ia). 

This is becoz all that the section 40 (a)(ia) requires is TDS deduction and payment before filing the return, which is complied with.

Grateful if some members could clarify the position.

 

Thanks

Sadanand