TDS Allowbility

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Himansu Sekhar Pati (Querist)
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03 February 2009 Tax deducted by a companyis allowable if deposited before the due of filing of return of income as per Sec 139(1)

Suppose Return is filed in july i.e before due date specified in sec 139(1),But the Tax deducted is deposited after july say 15th Sep which is well before due date specified in sec 139(1), Is it allowable for that year...........

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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03 February 2009 TDS has to be deoposited on or before the filing date and not beyond the filed date eventhough it falls before due date. Then only it will be allowed as expenditure otherwise it will be allowed in the year of payment.

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