banner_ad

ITR

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
05 January 2011 Advisable to revise the return.
Profile Image

mohinder kansal

Profile Image

mohinder kansal (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details