Allowability of expenses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2012 sir,
i have a doubt regarding allowbility of expenses against which tds collected before filling of return but deposited after the filling date. For example :- If Mr. Ram made TDS while paying rent, towards using of machine, to the machine owner in Financial Year 2009-10, but not deposited within the due date, ie., within the return filling date, then the expenses become dis allowable in that year. But if Mr. Ram deposited the same TDS amount in the subsequent year, can he avail the exepnses, for which TDS deposited, as allowable expenses in that year in which he deposited the TDS amount.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 August 2012 1. Since the TDS has not been deposited on or before the due date of filing the return for FY 2009-10, the expense shall be disallowed for that year.

2. This expense shall be allowed as deduction in the year in which the TDS is paid to the Government.

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