Tds on salary
This query is : Resolved
30 May 2012
I have a query.
If we fail to deduct TDS on specified payments, then that expense is not allowed to us. tell me whether TDS is necessarily required to be deducted on salaries also. and if we do not deduct then salary will be allowed to us as deduction or not and is there any need to mention the same in Tax Audit????
If we fail to deduct TDS on specified payments, then that expense is not allowed to us. tell me whether TDS is necessarily required to be deducted on salaries also. and if we do not deduct then salary will be allowed to us as deduction or not and is there any need to mention the same in Tax Audit????
30 May 2012
Section 40(a)(i), 40(a)(ia) and 40(a)(iii) deal with disallowance of expenditure if TDS is not deducted or not deposited.
None of the above sections makes a reference to SALARY payable to a resident or payable in India.
Accordingly, if salary is paid to a resident or is paid in India and TDS is not deducted on the same, the salary expense will NOT be disallowed.
None of the above sections makes a reference to SALARY payable to a resident or payable in India.
Accordingly, if salary is paid to a resident or is paid in India and TDS is not deducted on the same, the salary expense will NOT be disallowed.
30 May 2012
Thank u sir, for making it clear.
and sir then we need not to mention the same in Tax Audit?
and sir then we need not to mention the same in Tax Audit?
30 May 2012
You have to mention the details of the same in Point 27 of Form 3CD.
Message likes :
1 times
30 May 2012
Thank u sir, for making it clear.
and sir then we need not to mention the same in Tax Audit?
and sir then we need not to mention the same in Tax Audit?
30 May 2012
As I said you have to give details of the same in Point 27 of Form 3CD (Tax audit report).
30 May 2012
Thank u sir :-)
30 May 2012
You are welcome. You should use the thanks button to convey your thanks.
Message likes :
4 times
30 May 2012
You will be allowed as exp only if you deducted TDS on it, as very well clarified by Mr. Bharadhwaj. But do one thing please deposit TDS before 30 sep 2012(if you are asking about FY 2011-2012) so that you will be able to get benifit of exemption in which finacial year it is actually paid. Now rules clarified it as if the TDS Amount credited in books at last month(MARCH), then you may pay it before 30sep and may enjoy exemption in same financial when it was due. if TDS amount is relating any other part of year excepting last month of FY and paid after 31st mar the amount will be allowed in FY when it was paid. I hope i have had clarified to you. Please come further if you want some other clarification
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
