My quarry is on amendments of Section 40(a)(ia). As per amendements
if TDS not deducted and deposited upto 01-03-2008, then exp. will not allow
in the P.Y. 2007-08. But if TDS for March 2008 is deducted and deposited
upto 30-09-2008 then it will be allowable in P.Y.2007-08.
Now my question is that if tax is deductible throughout in the year 2007-08,
but it was not deducted and deposited upto 01-03-2008, but the amount of
TDS of full year was deducted on 31-03-2008 and then deposited whole of the
TDS amount of full year 2007-08 in the month of May 2008 then whether it will be
allowable in the P.Y. 2007-08 ?
In this case the TDS of April 2007, May 2007, Jun 2007 and so on was not
deducted on the date of payment but it was deducted on 31-03-2008 and deposited
in May 2008
CAclubindia
