Tds not deducted in current year
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 December 2013
Fees of Rs. 2,00,000 paid to software engineer for technical services or auditor f.y. 2012-13. etc.
i. TDS not yet deducted – No deduction allowed in 12-13, hence 2,00,000 fully disallowed.
But deduction shall be allowed in the P.Y. in which TDS is deposited.
ii. TDS deducted and deposited in P.Y 14-15 - Deduction of 2,00,000 can be claimed in PY 13-14 (next year)
It is right & wrong
Please Suggest me.....
i. TDS not yet deducted – No deduction allowed in 12-13, hence 2,00,000 fully disallowed.
But deduction shall be allowed in the P.Y. in which TDS is deposited.
ii. TDS deducted and deposited in P.Y 14-15 - Deduction of 2,00,000 can be claimed in PY 13-14 (next year)
It is right & wrong
Please Suggest me.....
30 December 2013
HI,
AGREE WITH EXPERT'S,
Refer bellow link i think this is use full to you,
https://www.caclubindia.com/articles/applicability-of-sec-40-a-ia-on-year-end-tds-provisions-4013.asp#.UsEMCu-n670
Tnks,
AGREE WITH EXPERT'S,
Refer bellow link i think this is use full to you,
https://www.caclubindia.com/articles/applicability-of-sec-40-a-ia-on-year-end-tds-provisions-4013.asp#.UsEMCu-n670
Tnks,
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