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Lower Deduction of TDS

This query is : Resolved 
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(Querist)
19 May 2008 Sir,

We have deducted Less TDS On Professional Fees in September 2007 and now on 20th Apirl 2008 we have realised that we have deducted Less TDS on Professional Fees
Suppose if i pay difference amount of TDS along with Penalty and Interest before 31ST May 2008 the Expenditure which have incurred will be allowed in the F.Y. 2007-2008 Or F.Y 2008-2009

Regards

Ravi Konda
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
19 May 2008 if you are deducting less amount of tds only that amount of deduction is available only if you are paying balance amount in this year then that is allowed in this year only if you are passing J V in last year on 31/03/2008 & tds amount is paid before 31/05/2008 then this is allowd in the F Y 2007-08
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CA. Kirti S. Ganatra

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CA. Kirti S. Ganatra (Expert)
19 May 2008 Yes Hemant is right.
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
19 May 2008 I assume less tds means, less rate of TDS.

The disallowance of expenditure gets attracted in case of non deduction of TDS. Less deduction is not a ground for disallowance of expenditure.

For TDS deducted in the month of March, TDS can be deposited till due date of filing return of income, with out attracting disallowance provision, although penal interest has to be paid.
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