TDS

This query is : Resolved

CA Amit Jaiswal (Querist)
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02 April 2010 TDS on interest for the Financial Year 2009-10 has not been deducted. How can it be rectified, so that the expense amount can become allowable.

Can it be paid alongwith interest upto 30th September 2010

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 April 2010 YES IT ACN BE PAID ALONG WITH INTEREST UPTO 30TH SEPT 2010

CA Amit Jaiswal

CA Amit Jaiswal (Querist)
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02 April 2010 The solution you advised is for the tds of month of march or for the whole year ?

I mean whether TDS for full year can be deposited alongwith interest upto 30th September 2010 ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 April 2010 YES TDS FOR FULL YEAR DEPOSITED WITH INTEREST AND ALSO FILE TDS RETURN OF ALL QUARTERS.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 April 2010 agree.with Mr.Sanjay

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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02 April 2010 Agreed

CA Amit Jaiswal

CA Amit Jaiswal (Querist)
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03 April 2010 Please refer Section 40a(ia) of Income Tax Act,1961.
As per the amendment made by FA 2008, the TDS for m/o March can be paid upto the date mentioned in Sec 139(1) and for the other months it can be deposited upto last day of the previous year i.e. 31st march.

As per the proviso, if the amount is subsequently deposited in next year, the expense will be allowable in the same PY in which the amount is deopsited.

Please confirm me the correctness of above provision as understood by me.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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03 April 2010 Section 40a(ia) of Income Tax Act,1961.
As per the amendment made by F. B. 2010,

TDS for m/o March can be paid upto the date mentioned in Sec 139(1) and for the other months it can be deposited upto the date mentioned in Sec 139(1,

SAME PROVISION FOR FULL PAYMENT APRIL TO MARCH,

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 April 2010 AGREE WITH ASHOK JI.

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