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TDS Disallowance

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(Querist)
09 May 2008 If the TDS deducted during a financial year is not deposited every month but deposited in full in Sep next yr i.e before Filing ITR. Will the expenditure disallowed or not for that previous yr when TDS was actually deducted?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
09 May 2008 As per the earlier provision, entire amount will be disallowed in the year of deduction and will be allowed in the year of remittance to the Govt's credit.

However, in view of the recent amendment, for the month of march, the expenses will be allowed in the year of deduction, if tax is remitted before filing return of income.
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
09 May 2008 tds is actually deducted but not deposited in the bank so it is disallowed u/s 40(a)(ia) of the income tax act only march tds is allowed if paid before filling of the income tax return new provision is amended in this month
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