Urgent!Allowability of expense due to delayed TDS remittance

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Rajen Pandya (Querist)
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11 September 2008 Hi,

I know that if we have not deposited TDS in time, the same will not be allowed as a deductible expense. However, I have information which says that if TDS is deposited before filing of the return, the expense will be allowed. Wanted to know any document/ section/link etc. which clarifies the same.

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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11 September 2008 1. All the TDS deducted for the Period from April to February of a Financial Year will have to be paid on or before 31st of March of that Financial Year to avoid disallowance.

2. TDS for the month of March of Financial Year can be paid upto the date of filing of the Return of Income for that Financial Year and there will be no disallowance in such case.

Refer Section 40 (a) (ia) of Income Tax Act-1956

**DM

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