TDS deducted after the end of relevant financial year
This query is : Resolved
01 July 2008
Can TDs on expense related to relevant financial year be deducted after the end of the relevant financial year?
OR
Expense disallowed in relevant financial year because of not deduction of TDS be claimed in subsequent financial year(after dectucting TDS on such expense)?
Take the example of salary and explain its treatment for employer as well for employee?
OR
Expense disallowed in relevant financial year because of not deduction of TDS be claimed in subsequent financial year(after dectucting TDS on such expense)?
Take the example of salary and explain its treatment for employer as well for employee?
01 July 2008
Yes
01 July 2008
03 July 2008
40(a)(ia) states as under:
(ia) any interest, commission or brokerage, 29[rent, royalty,] fees for professional services or fees for technical services payable to a resident, or amounts payable to a contractor or sub-contractor, being resident, for carrying out any work (including supply of labour for carrying out any work), on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid during the previous year, or in the subsequent year before the expiry of the time prescribed under sub-section (1) of section 200 :
SO IT DOES NOT COVER SALARY PAYMENTS
(ia) any interest, commission or brokerage, 29[rent, royalty,] fees for professional services or fees for technical services payable to a resident, or amounts payable to a contractor or sub-contractor, being resident, for carrying out any work (including supply of labour for carrying out any work), on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid during the previous year, or in the subsequent year before the expiry of the time prescribed under sub-section (1) of section 200 :
SO IT DOES NOT COVER SALARY PAYMENTS
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