Section 40(a)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2010
An expense is provided for on 31.03.2010 but entry for TDS deduction is not passed on 31.03.2010. TDS deduction entry is passed and paid during current year before 31.05.10. Whether this expense will be disallowed under section 40(a) for entry for deduction of TDS not passed on 31.03.2010.
Aditya Maheshwari
(Expert)
28 June 2010
Requirement of section 40(a)(ia) is that tax must have been deducted even if the same is paid after the due date of paying TDS is allowable if paid before the due date of filing return.
Hence the above will be disallowed for want of deduction before 31.03.
And the expenses will be allowed in the next year.
Hence the above will be disallowed for want of deduction before 31.03.
And the expenses will be allowed in the next year.
28 June 2010
Agreed with Adiya jI.
Entry of tds will be done on date of expense booked.
now it is disallowed in current year. But allowed in next year in which it is deducted and deposited.
Entry of tds will be done on date of expense booked.
now it is disallowed in current year. But allowed in next year in which it is deducted and deposited.
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