Tax audit clause 27

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 What amount should come under clause 27(b)(iv): Details of tax deducted but not paid to the credit of the Central Government, it should be amount outstanding as on last day of previous year and paid before filling of return OR amount unpaid as on last day of filing of return..??

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 It should be the amount of TDS but not paid to the central govt within the due date. This will for the financial year under audit.

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 Sir if it is not paid within due date but paid before return filing then also it would come..?

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 What i normally assume is if an amount is paid before DUE DATE of filing return, will definitely fall under the 27. Say TDS deducted on 25/12/2011... due date was 7 Jan 2012. Paid on 31/07/2012. (Before due date) Still it falls under 27

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 ok..thanks sir and clause 18 covers only managerial and director related payment or it also covers payment to related party..?

Amol S Joglekar

Amol S Joglekar (Expert)
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21 August 2012 Yes, 40(a)(2)(b) parties are covered in clause 18

Querist : Anonymous

Querist : Anonymous (Querist)

21 August 2012 Thanks sir..

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