tds

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salman shamsi (Querist)

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.

CA Navin Jain

CA Navin Jain (Expert)

22 July 2011 if accounts are made on accrual basis then exp disallowed as prior period item

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

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.

salman shamsi

salman shamsi (Querist)

15 September 2011 if i pass tds deduction entry on 31.3.2011 and pay it now wheather it should be allowed.

CA Anjali Aswal

CA Anjali Aswal (Expert)

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.

salman shamsi

salman shamsi (Querist)

24 October 2011 THANK U ALL

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