TDS AY 0910
This query is : Resolved
20 June 2009
There is certain confusion in my mind regd the time within which we req to make tds payments.
1. By which date do we req to make tds payments for apr-08 to march 09.
2. By which date do we req to make tds pymts on provisions.
3. timely payments, if not done results in dissallowance of exp, hence are these time frames also applicable in case of capital exp... since there is no question of dissallowance in this case.
4. in case tds on capital exp is not paid within time frame, is depreciation on same subjected to disallowance.
pls help
1. By which date do we req to make tds payments for apr-08 to march 09.
2. By which date do we req to make tds pymts on provisions.
3. timely payments, if not done results in dissallowance of exp, hence are these time frames also applicable in case of capital exp... since there is no question of dissallowance in this case.
4. in case tds on capital exp is not paid within time frame, is depreciation on same subjected to disallowance.
pls help
20 June 2009
Prachi, Please see the answers for your set of questions;
1. You need to make the tds payment for the period from april 08 to feb 09 by march 07.
2. TDS for the period from 01 march to 31st march the last would be 31st may as per chapter xviiB of income tax act. But for the purpose of sec 40(a)(ia) the due date would be before due of return filling.
3. Yes, failure to pay the income tax would attract the disaalowances of expenses.
4. With respect to capital expenditure, this will not be disallowed as per income tax act. But yes as you said depreciation on such amount will be disallowed.
Experts will elloborate more.
1. You need to make the tds payment for the period from april 08 to feb 09 by march 07.
2. TDS for the period from 01 march to 31st march the last would be 31st may as per chapter xviiB of income tax act. But for the purpose of sec 40(a)(ia) the due date would be before due of return filling.
3. Yes, failure to pay the income tax would attract the disaalowances of expenses.
4. With respect to capital expenditure, this will not be disallowed as per income tax act. But yes as you said depreciation on such amount will be disallowed.
Experts will elloborate more.
20 June 2009
only credits on 31st march is to be paid upto 31st may.
21 June 2009
thank you so much sir
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Putting a heading on received mail
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
