Late payment of TDS

This query is : Resolved

varsha Jayesh Savant (Querist)
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01 November 2009 One of our client has credited the account towards expenses in December 08, but deposited TDS in the month of October 09. Is it possible for him to claim the deduction towards expenses in his accounts during the financial year 2008 -09

RAJAN GUPTA

RAJAN GUPTA (Expert)
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01 November 2009 under which section tds was deductible ?

Rahul Vora

Rahul Vora (Expert)
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02 November 2009 No, you cannot claim deduction of such expenses during the financial year 2008-09

CA Deepak S

CA Deepak S (Expert)
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02 November 2009 For claiming the expense in the financial year 2008-09 you should have paid the amount at least by march 09. So you can claim the expenditure only in AY 20010-11

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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02 November 2009 The following expenses will be disallowed if TDS not paid within due date.

1.Interest, 2.Commission/Brokerage, 3.Fees for Technical/Professional services, 4.Payment to contractors/subcontractors, 5. Rent, 6. Royalty payment to resident.