Sec 40(i)(a) & sec 200(1)
This query is : Resolved
YATHARTH SHARMA
(Querist)
22 October 2011
can the expense be allowed, if tds is deducted & paid to the credit of gvt. after the due date prescribed u/s 200 but before the due date of filing of income tax return,,,
i am confused as expenses u/s 43B be allowed if paid before the due date of I.T return,,, is it same with expense u/s 40(i)(a)
please help
i am confused as expenses u/s 43B be allowed if paid before the due date of I.T return,,, is it same with expense u/s 40(i)(a)
please help
23 October 2011
If tds deposit before due date of return Then sec40(a)(ia) not applicable...and expenses specified in sec 43B if expenses paid before due date to the payee..then it will allowed in same previous year ....
40(a)(ia) realted to payment of tds and sec 43b realted to payment of expenses.
40(a)(ia) realted to payment of tds and sec 43b realted to payment of expenses.
YATHARTH SHARMA
(Querist)
23 October 2011
my query relates to 40(a)(1) ie dis allowance of payment made to non resident due default in payment of TDS, please just tell me which date is relevant due date of income tax return or due date of TDS return,
23 October 2011
tds deposit due date of mar is 30 apr...income tax return date 31 july
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23 October 2011
TDS due date is relevant for your case
YATHARTH SHARMA
(Querist)
23 October 2011
i know this,,,, but will you tell me which date will be relevant for sec 40(a)(i)
YATHARTH SHARMA
(Querist)
23 October 2011
ohkz! are you 100% sure, as i remember that i have read somewhere that apex court in some case has said that if tds is deposited before filing of income tax return,, expense will not be disallowed
23 October 2011
i am 100% sure...APex court judgement is applicable for sec 40(a)(ia)...if you paid TDS before due date of return then exp. not disallowed
YATHARTH SHARMA
(Querist)
23 October 2011
thanks so much :)
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