TDS on Fianacial Charges
This query is : Resolved
08 May 2010
What if TDS is deducted on Financial Charges but not paid to the Government, is the expense still allowed to be claimed?
Thank You,
Regards,
Devendra
Thank You,
Regards,
Devendra
09 May 2010
In this respect, the recent changes in Budget 2010 dictate as follows ; If TDS is deducted in last year but deposited before due date of filing return, expense would be allowed. But Interest on delay deposit would be required to pay. (Applicable from 01/04/2010)
Earlier Provisions : If TDS is deducted in last year except last month , it has to be deposited before the end of the year. And TDS deducted in last month should have be deposited before filing of return.
If conditions violate, deductions would be allowed in the year in which TDS is paid.
Earlier Provisions : If TDS is deducted in last year except last month , it has to be deposited before the end of the year. And TDS deducted in last month should have be deposited before filing of return.
If conditions violate, deductions would be allowed in the year in which TDS is paid.
09 May 2010
AGREE WITH EXPERT.
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