Salary paid in next FY with TDS

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Chartered Accountant
153 Points Posted on 14 November 2018

We have paid salaries for the month of Mar'18 at end of the Apr'18 by deducting TDS as on 30/04/2018. Salary payable is laying as payable in the balance sheet as on 31/03/2018. Therefore, the same is eligible deduction under section 40a (ia), if yes kindly substantiate.

Thanks in advance

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On 14 November 2018 at 15:56 Report
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CA
433 Points Posted on 14 November 2018

Yes, the Salary expenditure will be allowed as deduction u/s 40. 

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On 14 November 2018 at 16:14
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Student CA Final
12692 Points Posted on 14 November 2018
70% of Salary paid shall be allowed in FY 17-18. Rest 30% shall be Disallowed under section 40(a)(ia).

In next year i.e FY 18-19 when you paid salary and deduct TDS thereon the 30% part shall be allowed then in FY 18-19.
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On 14 November 2018 at 17:10
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198 Points Posted on 14 November 2018
The amount of salary will be allowable as deduction as TDS on the same has been paid on or before the due date of filing of return.
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On 14 November 2018 at 20:27

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