TDS deducted after the end of relevant financial year

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This query is : Resolved

Deepanshu Agg. (Querist)

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?

Sakshi Gumbar

Sakshi Gumbar (Expert)

01 July 2008 Yes

Deepanshu Agg.

Deepanshu Agg. (Querist)

01 July 2008

Late CA Sampat Jain

Late CA Sampat Jain (Expert)

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

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