tds late deposit
This query is : Resolved
sonu gupta
(Querist)
05 May 2011
co.X has deposit the TDS deducted on interest after the end of f.y 2010-11 .whether deduction of interest expense allowed or not and if yes in which F.Y.
06 May 2011
If the TDS so deducted in Fy 2010-11 is deposited before the due date of filing of Income Tax Return the expenses shall be allowed as deduction.
CA. Krishna K Neeraj
(Expert)
06 May 2011
Since TDS ON INTEREST has been deducted after END OF f.y. 2010-11, interest expenses will not be allowed in the F.Y. 2010-11
Interest expense will be allowed in the Previous Year in which TDS will be deposited into Govt. Account.
Interest expense will be allowed in the Previous Year in which TDS will be deposited into Govt. Account.
CA. RAVIKUMAR
(Expert)
07 May 2011
I Agree with the Answer given by the CMA Sanjay Gupta.
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