Rent TDS not paid
This query is : Resolved
23 April 2008
please clear me
i fail to deduct rent TDS for Financial Year 2007-2008 Rent is Rs.15000/- per month i.e. Rs.1,80,000/- for the year
in this case what can i do.
in F.Y.2007-08 expenses allow or not and still i paid TDS or Not?
i fail to deduct rent TDS for Financial Year 2007-2008 Rent is Rs.15000/- per month i.e. Rs.1,80,000/- for the year
in this case what can i do.
in F.Y.2007-08 expenses allow or not and still i paid TDS or Not?
23 April 2008
fortunately rent does not fall under sec 40(a)(i) and hence entire exp. does not suffer disallowance in 07-08.
you can now deduct tds/deposit same/file return/issue tds cert. and tds credit will be allowed to deductee in year of deposit.
penalty leviable for failure to deduct TDS is equal to amount of tax failed to deduct.but penalty not leviable if assessee proves that there is reasonable cause for failure.
R.V.RAO
you can now deduct tds/deposit same/file return/issue tds cert. and tds credit will be allowed to deductee in year of deposit.
penalty leviable for failure to deduct TDS is equal to amount of tax failed to deduct.but penalty not leviable if assessee proves that there is reasonable cause for failure.
R.V.RAO
24 April 2008
The whole of the expenditure shall be disallowed under sec 40(a)(i).
Rent is also included under the above cited sections w.e.f 01-04-2006
Rent is also included under the above cited sections w.e.f 01-04-2006
24 April 2008
finaly i want to clear what can i do?
disallowance expenses of 2007-08 for that will pay Income Tax or not.
and if now i pay TDS then expenses allow in this financial year means 2008-09 and what abt interest calculation of TDS and which year i will make challan
disallowance expenses of 2007-08 for that will pay Income Tax or not.
and if now i pay TDS then expenses allow in this financial year means 2008-09 and what abt interest calculation of TDS and which year i will make challan
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- 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
