Tax deducted At Sourse

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 If deducte deducts short TDS in financial year 2008-09 on account of legal & professional charges, but deducts full amount in current year. Can the deducte claim deduction of expenses in current year?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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22 February 2011 no, tds shud b deducted in same year only when its accrued

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 but I think according to section 40(a)(ia) expense can be claimed in the year of deposit of TDS?
Please refer the section & clear me also on this point.

Guest

Guest (Expert)

22 February 2011 Yes, queries is correct so far as section 40(a)(ia) is concerned.

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2011 So sir that means we can claim expense in current year i.e. in year of deduction & deposit of TDS?

S.A.BADAMIKAR

S.A.BADAMIKAR (Expert)
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23 February 2011 As per your query Short TDS is made in F.Y.2008-09,Whether the Deducted TDS deposited in 2008-09 or within time allowed & proportionate expense disallowed while filing Return of Income ? If yes then, you can deducted the short amount this year & deposit the same & get the benefit proportionately (related to short Deduction).