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
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
(Expert)
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.
So in your case exp will be allowed if you didn't file return before 7th May.
07 May 2010
YES THE EXPENSES WILL BE ALLOWED IN AY 2010-11
08 May 2010
Ya its right...
Finance act has amended it retrospectively from AY 2010-11.
Finance act has amended it retrospectively from AY 2010-11.
Shyam Lal Naik
(Expert)
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.
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 :
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NISHIT A. DOSHI
(Expert)
14 May 2010
HI,
Totally agree with Mr. Shyam Lal Naik
Thanks.
Totally agree with Mr. Shyam Lal Naik
Thanks.
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