TDS Payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2010 We have deducted TDS on salary for the month of February 2010 but paid on 07.05.2010. Would the expenses be allowed in A.Y.2010-11

CA. RAJESH Kr. MAURYA

CA. RAJESH Kr. MAURYA (Expert)
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07 May 2010 No this expense would not be disallowed, provided the salary has not been given to any person outside India or not given to non-resident in India. Except these, you can deduct the expense.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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07 May 2010 sec 40(a)(ia) has been amended. if you deducted TDS and depsoited it on or before the due date of filing of return then the expenditure will be allowed in same F.Y.
So in your case exp will be allowed if you didn't file return before 7th May.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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07 May 2010 YES THE EXPENSES WILL BE ALLOWED IN AY 2010-11

Krishan

Krishan (Expert)
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08 May 2010 Ya its right...

Finance act has amended it retrospectively from AY 2010-11.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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08 May 2010 Concur with Mr. Rajesh.

Section 40 (a) (ia) is not applicable to TDS on salary.

The expense is allowed in any case, not withstanding the recent amendment.

Message likes : 1 times

NISHIT A. DOSHI

NISHIT A. DOSHI (Expert)
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14 May 2010 HI,

Totally agree with Mr. Shyam Lal Naik

Thanks.

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