Dissallowance U/s.40(a)(ia)

Hey guys,

The finance bill 2010 says any tax deducted during the previous year for which if the TDS is remitted on or before Due date of  filing of return of income will be sufficient and no dissallowance will be made under section 40(a)(ia)

May i know from when it is going to be applicable (i.e.) previous year and assessment year from which it is going to be applicable.

Thanks in advance :)

:)

Replies (4)

Hi vikram,

 

As per Updates From Finance Act 2010  you can deposit TDS, related to any month of previous year by due date for Income return Filing date and can claim expense in previous year.And this provision is proposed to be applicable from financial year 2009-10.

 
take care :)

Thank U sanjay :)

Yes the above is correct but there is a slight correction in the post above that the said provision has been proposed in the Finance Bill 2010 and the same is still to become an Act

The Proposed provision for TDS  is for the Financial year 2010-11.  Hence I feel it will applicable for the assessment year 20011-12

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