ommission of TDs deduction
This query is : Resolved
Om Prakash Singh
(Querist)
26 September 2008
sir,
There is problem that i,m working in a Pvt Ltd firm and paying brokerage to commission agent about Rs. 5000.00 for 2007-08. by mistake i could not deduct the TDs on above amount and paid full amount in april 08. So this amount i credited in the month of june and deducted tds because The omitted Tds i came to know in June 08 while audit then i deducted tds on this amount by crediting the amount as on date of payment. This Tdspayble is deposited in to the A.y 2009-10. Now coommission agent want confirmation of account for 2007-08 in which he has debited to our account. What should i do.
There is problem that i,m working in a Pvt Ltd firm and paying brokerage to commission agent about Rs. 5000.00 for 2007-08. by mistake i could not deduct the TDs on above amount and paid full amount in april 08. So this amount i credited in the month of june and deducted tds because The omitted Tds i came to know in June 08 while audit then i deducted tds on this amount by crediting the amount as on date of payment. This Tdspayble is deposited in to the A.y 2009-10. Now coommission agent want confirmation of account for 2007-08 in which he has debited to our account. What should i do.
Ravikumar.G
(Expert)
26 September 2008
Sec 40 (a) (ia) ammendment retrospectively to allow deduction of expenses in case TDS of Mar month not paid in time but paid before due date of return
Ravikumar.G
(Expert)
26 September 2008
if you made the provision on Mar08 you can claim the entire expenses.
Om Prakash Singh
(Querist)
26 September 2008
there is modification in my query
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