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last date of deposit of tds
hi, i m working as a account excecutive. by mistake i deposited tds of march month on 1 june. later i came to knw that last date of deposit of tds of march monrh is may. can anyone tell me that the whole amt on which we deducted tds is disallowable or nt
Replies (6)
Hai
31st may is the due date for TDS on Provision made on 31.03. If u have not paid within the due date then the entire amount is disallowed as per Section 40a. TDS on salalry will not come under this section therefore if u have paid after the due date also,it wil be allowed.
How ever, the expenses disallowed will be allowed as business expenditure in the next asst. year
1. Due Date of Mar TDS
TDS deducted from
If the TDS relates to Salary, then there will be no disallowance.But if it is for any other expenditure, then whole of the expenditure will be disallowed.
If exp is not relating to salary, then disallowance. However, as you have paid by 1st June, you will get allowance next year
This expenditure will be disalowed in the current year and you can claim it as deduction in he next year.
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