TDS AY 0910

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PRACHI SHAH (Querist)

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

chetan soni

chetan soni (Expert)

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.