Tds payments disallowence

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This query is : Resolved

MADHU SUDHAN K (Querist)

29 September 2011 Dear All
I failed to pay the TDS remittences to govt account in stipulated time. Now i came to file my company returns by 30-09-2011 (due date). If i am going to file my return after due date, any possibility to pay the TDS before filing date without any expenditure disallowences.
Please clarify.
Thanks

CA Navin Jain

CA Navin Jain (Expert)

29 September 2011 i Think your query is that if you file the return on 10.10.2011 and deposited tds on 05.05.2011 then expenses will be disallowed or not.

Yes, in the above case expenditure will be disallowed.

CA Prashant Shrivastava

CA Prashant Shrivastava (Expert)

29 September 2011 The expense will be disallowed if TDS not deposited before the due date of filing of ITR, However if the TDS will be deposited after the due date of filing of return then the expenditure will be allowed in next year. Moreover if you will not file the ITR with-in the due date then penal provisions of Income Tax Act, 1961 will be attracted. As such there is no prudence in delay in filing of ITR.
I think you should file the ITR in time you have 2 days including today for depositing the TDS. Further, if you deposit the TDS after filing of ITR then there is no problem the expenditure will be disallowed in this A.Y. will be allowed in next year.

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