tds
This query is : Resolved
22 July 2011
IF TDS NOT DEDUCTED (LIABLE TO BE DEDUCTED) DURING THE YEAR(FY 2010-11) BY A PARTNERSHIP BUT DEDUCTED NOW IN JULY AND PAID .
WILL THE EXPENDITURE BE ALLOWABLE.
WILL THE EXPENDITURE BE ALLOWABLE.
22 July 2011
if accounts are made on accrual basis then exp disallowed as prior period item
22 July 2011
As per proviso to section 40 (a) (ia) of the Income tax Act,1961, expenditure will be disallowed in Financial year 2010-2011.
15 September 2011
if i pass tds deduction entry on 31.3.2011 and pay it now wheather it should be allowed.
15 September 2011
if you deposit the TDS before the due date of filing the return than the expense will be allowed in f.y. 2010-11. The date of entry is irrelevent. you have to pay interest for the late deposit of TDS and also will have to revise the TDS return of that quarter to which that bill relates.
24 October 2011
THANK U ALL
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