Tds on professional fees
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 May 2013
We finalised the accounts for the year fy 2011-12 on 18th april 2013. the professional fees amounted to Rs.2,24,720 and tds is deducted at 10% of Rs.22,742 which is yet to be deposited to the govt.
Can the above expenditure allowed as deduction as per income tax act?
Can the above expenditure allowed as deduction as per income tax act?
14 May 2013
No it cannot be allowed for FY 2011-12. If you deposit the same till 30-9-13, then you may allow it in FY 2012-13
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