Tds

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Anand Modi (Querist)
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17 July 2013 case 1. Whether the expense is allowable if the provision is made but TDS not deducted and not paid till April 13 but DEDUCTED paid on JULY for FY 12-13.

Case 2. whether expense is allowed in case of short deduction of TDS. TDS paid on july 13 for FY 12-13.

Case 3. For expense during the year TDS not deducted and not paid during the year but paid on JULY 13 for FY 12-13.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 case-1 ans is yes.

case-2 allowed to the extent paid.

case-3 yes.

Anand Modi

Anand Modi (Querist)
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17 July 2013 Please quote the section through which we can be sure that the expense is allowable because as per my knowledge if the TDS is not deducted before march then expense is not allowed.

Thanks and Regards

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 July 2013 If Tds is not deposited within due date but deposited on or before the due date specified in sub-section (1) of section 139 (Due date of filing income tax return) then expenses will not be disallowed.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 As per sec 40a if tds is dedcuted and paid till the date of filling of return of income it is allowed as deduction.

Anand Modi

Anand Modi (Querist)
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17 July 2013 True sir,
But here the question is tds not deducted in FY 12-13. and when TDS is not deducted in FY 12-13 then whether assesse can claim expense if tds is paid before due date.

Thanks and Regsrds

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 July 2013 yes provided the payment should be in relation to exp or for service for fy 12-13.

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