ITR
This query is : Resolved
05 January 2011
A company filed ITR with loss for a.y 2010-11 by disallowing the salary paid to residents as the TDS was not paid to the government before due date. Actually salary paid to residents are not disallowed u/s 40(a) but will come under the penal sections with interest. Now the company want to rectify this mistake.
Should the company file a revised return with increased loss to be carried forward to the next year or rectify this in the next year ITR as allowable expense because the TDS is paid in the next financial year.
Please advise.
Should the company file a revised return with increased loss to be carried forward to the next year or rectify this in the next year ITR as allowable expense because the TDS is paid in the next financial year.
Please advise.
05 January 2011
Advisable to revise the return.
05 January 2011
salary expenses will not be allowed in the next year on basis of late TDS deposited as these are not covered by section 40(a), as u rightly said, in this situation revised return should be filed as also advised by Shri Aditya Maheshwari
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
