Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 my client has not deducted TDS on directors remuneration...we will now get it deducted for tax audit...i want know whether that TDS amount can be claimed by me as expense or it will be disallowed ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2012 If the TDS amount is deposited before the due date of filing of income tax return then the expenses can be claimed.

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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18 September 2012 TDS is never deductible as an expense, only deduction of expenses is allowed if TDS is paid before the due date

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 i will clarify my doubt...pls help...suppose Directors remuneration is 120000 and I am deducting TDS According to Slab rates @ 10% Rupees 12360(incl of Cess) which i will pay before 30th September 2012 for AY 12-13. Will i get the expense of TDS amount Rs 12360 ?

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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18 September 2012 First of all, If the directors remuneration is only Rs. 120000 then no need to deduct the TDS.
Even if the TDS is deducted, you will not get the claim of expense of TDS.

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