TDS
This query is : Resolved
25 September 2010
ABC PVT LIMITED HAS BEEN CLOSED ITS BOOKS OF ACCOUNTS AS ON 31.05.2010.
DURING THE TAX AUDIT ITS FOUND THAT TDS HAS NOT BEEN DEDUCTED ON THE PROFESSIONAL CHARGES.
AS BOOKS OF ACCOUNTS HAS BEEN FINALIZE AS ON 31.05.2010 SO COMPANY CAN NOT MAKE THE ENTRY OF TDS PAYABLE IN THE BOOKS OF ACCOUNT IN THE YEAR ENDED 31.3.2010
NOW MY QUESTION IS, IF COMPANY HAS DEPOSIT TDS AMOUNT ON OR BEFORE 30.09.2010 THEN COMPANY CAN CLAIM THE DEDUCTION OF PROFESSIONAL CHARGES DURING THE A. Y. 2010-2011
DURING THE TAX AUDIT ITS FOUND THAT TDS HAS NOT BEEN DEDUCTED ON THE PROFESSIONAL CHARGES.
AS BOOKS OF ACCOUNTS HAS BEEN FINALIZE AS ON 31.05.2010 SO COMPANY CAN NOT MAKE THE ENTRY OF TDS PAYABLE IN THE BOOKS OF ACCOUNT IN THE YEAR ENDED 31.3.2010
NOW MY QUESTION IS, IF COMPANY HAS DEPOSIT TDS AMOUNT ON OR BEFORE 30.09.2010 THEN COMPANY CAN CLAIM THE DEDUCTION OF PROFESSIONAL CHARGES DURING THE A. Y. 2010-2011
25 September 2010
yes.. you can claim the deduction provided the expenditure is of march
25 September 2010
Since, you are not deduct the TDS, cannot be make the TDS payable entry in 31.3.2010, so avoiding disallowance pay the TDS before filling the Return and make the entry in current year
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
