DEDUCTION AS EXPENSE
This query is : Resolved
CA Alekh Mathur
(Querist)
20 February 2009
IF ANY PERSON HAS DEDUCTED TDS ON ON ANY EXPENSE AND TIMELY DEPOSITED THE DEDUCTED AMOUNT BUT FAILS TO FILE THE TDS RETURN, THEN IN SUCH CASE WHETHER SUCH EXPENSE WILL BE ALLOWED AS DEDUCTION UNDER THE HEAD "BUSINESS AND PROFESSION" AS PER INCOME TAX ACT?
CA. B.SRINIVASULU
(Expert)
20 February 2009
Yes, eventhough you have not filed the tds return it will be allowed as deduction but before filing your return you should have filed the tds return. This is for your easy assessement.
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