24 September 2012
Case: The asessee had not deducted TDS u/s. 194C till 31.03.2012 TDS has been deducted & deposited in September 2012 for expense pertaining to F.Y. 2011-12. Question is whether expense will be allowed for the A.Y. 2012-13 or A.Y. 2013-14? Please reply asap..
24 September 2012
amendments of finance act 2012 would be applicable for fy 12-13(AY 12-13) hence it cant be taken for Fy 11-12 (AY 12-13) avbl in AY 13-14
25 September 2012
Expenditures pertaining to previous financial years upon which TDS need to be deducted but not deposited till 31.03.2012, can be deposited before last date of filing of ITR or actual date of filing ITR. If this has been done, expenditures can be claimed.
CAclubindia
