One of my client being a Pvt Ltd Co. has not deducted TDS on certain payments which are subject to TDS relevant to IVth quarter pertaining to F.Y.2013-14.Hence the same are be disallowed as per I.T.Act.However the Act also says that if such TDS has deposited to the Govt in next F.Y. i.e. F.Y.2014-15 but prior to filing of Income tax return i.e. 30.09.2014 the same can be allowed as admissible Expenses by virtue of section 40 (a)(ia) of I.T.Act. Now the query is how to show the same while filing e-TDS Return i.e. whether we have to revised/Corrected the IVth E-TDS quarter relevant to F.Y.2013-14 by getting Consoled file from cpctds website or the same can be shown in IInd Quarer relevant to F.Y.2014-15 while filing relevant e-tds return in order to claim the expenses in the year in which TDS has paid. Please suggest accordingly at the earliest.
Tds under section 194c and 194j
CA Sanjay Baheti (PROPRIETOR) (1155 Points)
21 August 2014