Tax deducted At Sourse

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 If deducte deducts short TDS in financial year 2008-09 on account of legal & professional charges, but deducts full amount in current year. Can the deducte claim deduction of expenses in current year?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

22 February 2011 no, tds shud b deducted in same year only when its accrued

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2011 but I think according to section 40(a)(ia) expense can be claimed in the year of deposit of TDS?
Please refer the section & clear me also on this point.

Guest

Guest (Expert)

22 February 2011 Yes, queries is correct so far as section 40(a)(ia) is concerned.

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2011 So sir that means we can claim expense in current year i.e. in year of deduction & deposit of TDS?

S.A.BADAMIKAR

S.A.BADAMIKAR (Expert)

23 February 2011 As per your query Short TDS is made in F.Y.2008-09,Whether the Deducted TDS deposited in 2008-09 or within time allowed & proportionate expense disallowed while filing Return of Income ? If yes then, you can deducted the short amount this year & deposit the same & get the benefit proportionately (related to short Deduction).

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