Expenses allow ability for company
This query is : Resolved
Vinit Garg
(Querist)
13 November 2014
Dear Experts
Please tell me if due date of return u/s 139 is 30/11/2014 (fy 13-14). We have not deducted TDS on one contract payment in FY 2013-14 and the same TDS has been deducted and deposited in next fy 14-15 i.e. on 30/04/14 .Now question arise in which financial year, expenses will be allowed to company.
Thanks
Please tell me if due date of return u/s 139 is 30/11/2014 (fy 13-14). We have not deducted TDS on one contract payment in FY 2013-14 and the same TDS has been deducted and deposited in next fy 14-15 i.e. on 30/04/14 .Now question arise in which financial year, expenses will be allowed to company.
Thanks
21 November 2014
The expense will be allowed in the year in which TDS is DEDUCTED and deposited.
In this case the expenses will be allowed in AY 15-16
In this case the expenses will be allowed in AY 15-16
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