Regarding TDS
This query is : Resolved
01 June 2008
dear sir,
i could not pay the TDS for the last quarter of 07-08. i paid the said TDS on the 1st Apr.08. now my CA is telling me the entire amount of the transportation on which we can't pay the TDS will be disallowed and be added in the income.
on transportation of Rs. 1Lac i have to pay the TDS. now the CA is telling the entire Rs.1Lac will be added in the income not the TDS Liability which i could not pay.
please let me know what is the rule?
i could not pay the TDS for the last quarter of 07-08. i paid the said TDS on the 1st Apr.08. now my CA is telling me the entire amount of the transportation on which we can't pay the TDS will be disallowed and be added in the income.
on transportation of Rs. 1Lac i have to pay the TDS. now the CA is telling the entire Rs.1Lac will be added in the income not the TDS Liability which i could not pay.
please let me know what is the rule?
01 June 2008
no, it is not disallowed.
as per sec 40 (a) (ia) ,u can deposit the tds amount upto the date of filing of return as per the recent amendment.
as per sec 40 (a) (ia) ,u can deposit the tds amount upto the date of filing of return as per the recent amendment.
CA Anil Jain
(Expert)
02 June 2008
Yes.
As per the new Finance Act 2008 the TDS can be deposited till the date of filing Return u/s 139(1). But interest is also be required to deposit.
This provision has retrospective effect w.e.f. 01-04-2005
As per the new Finance Act 2008 the TDS can be deposited till the date of filing Return u/s 139(1). But interest is also be required to deposit.
This provision has retrospective effect w.e.f. 01-04-2005
Shyam Lal Naik
(Expert)
02 June 2008
You have paid TDS for the last quarter on 01/04/2008.
Expenses relating to Jan'08 & Feb'08 will be disallowed in AY 2008-09. This will be allowed in the AY 2009-10.
Expenses relating to Mar'08 will however be allowed in the AY 2008-08.
The circular referred to in the earlier answers applies only for tds deduction during March'yy.
Expenses relating to Jan'08 & Feb'08 will be disallowed in AY 2008-09. This will be allowed in the AY 2009-10.
Expenses relating to Mar'08 will however be allowed in the AY 2008-08.
The circular referred to in the earlier answers applies only for tds deduction during March'yy.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
