TDS non deduction for last f/y. whether return to be revised
This query is : Resolved
YOGESH GUPTA
(Querist)
23 June 2009
We have not deducted the TDS for one of the vendor due to oversight. But now during audit the same has been highlighted by the auditor. Now are ready to pay TDS and interest.
Please suggest whether we should revise our last year TDS return or furnish the figures in current years TDs return
Regards
Yogesh gupta
We have not deducted the TDS for one of the vendor due to oversight. But now during audit the same has been highlighted by the auditor. Now are ready to pay TDS and interest.
Please suggest whether we should revise our last year TDS return or furnish the figures in current years TDs return
Regards
Yogesh gupta
chetan soni
(Expert)
23 June 2009
If this is pertaining to last financial year, then you need to revise the respective Qtr- tds return of last year itself.
Also note if this amount was paid or credited before 1st March then the relevant TDS should be deposited in the same F.y.
Now in your case this happens after March. The particular expenses amount will be disallowed as per sec 40(ia)
Also note if this amount was paid or credited before 1st March then the relevant TDS should be deposited in the same F.y.
Now in your case this happens after March. The particular expenses amount will be disallowed as per sec 40(ia)
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