Audit- tds deducted late ??

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2012 From an Audit Point of view,
If TDS is deducted late but paid in the month of deduction itself (before filing of IT returns), what will be the effect of the concerned expense and TDS in the Books, Computation of Tax and Audit report.

Is the expense disallowed ??

10 December 2012 If TDS is deductible, but not deducted.and thereafter deducted in the subsequent year..then the expenditure will be allowed in the year during which TDS will be deposited...no concept of before/after due date of filling of return...

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 December 2012 TDS is deducted in the same yr but say 1 or 2 months late and deposited immediately. Is it required to be disclosed in audit report ..

10 December 2012 If TDS is paid after the end of Financial year but before filing of return then u have to mention date of payment of TDS in the audit report


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