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Direct taxes

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28 March 2009 Amendments to provisions relating to disallowance of interest, commission, rent etc payable to a resident for non-deduction of tax at source or non-payment of tax deducted(40(a)(ia))
Whether it is disallowed if it is not deducted in the previous year, if it is deducted and paid in the next year regarding previous year whether it would be allowed?
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
28 March 2009 In the assessment year 2009-10 w.e.f. AY 2005-06 following provision has been inserted fro section 40(a)(i) and 40(a)(ia)

If
• TDS was not deducted, or
• TDS deducted in the month of April to Feb but not paid till the end of previous year, or
• TDS deducted in the month of March but not paid till due date of filing of return
then
Allowance for the expenditure shall not be allowed in the current year but it will be allowed when assessee pays the tax to the credit of Govt.
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