Tds
This query is : Resolved
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.
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.
17 July 2013
case-1 ans is yes.
case-2 allowed to the extent paid.
case-3 yes.
case-2 allowed to the extent paid.
case-3 yes.
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
Thanks and Regards
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.
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.
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
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
17 July 2013
yes provided the payment should be in relation to exp or for service for fy 12-13.
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