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Tds on provision of expense and filing of tds return

TDS 239 views 1 replies

I had received an Invoice dated 31/03/2019 of courier charges in June 2019. I had made a provision of expense in 31st March as balance sheet is still not finalised and paid the TDS amount with interest. And this provision reverse in June 2019 with Vendor Account. TDS return for Q4 (18-19) had already filed in May 2019.

Now my query is :

1. As TDS return for Q4 18-19 had already filed, Can I file this TDS on provision amount with respective vendor in Q1 19-20 TDS return? or do i need to revise Q4 18-19 return again and file the respective entry in revise return.

2. If we forgot to file any TDS amount in previous year fiscal year TDS returns, can i file that entry in current fiscal year TDS return or do we need to revise TDS return of last FY.

3. My another question is, if we forgot to deduct any TDS amount in earlier Fiscal years, Can we deduct that amount in current year and file in current year TDS return. 

Replies (1)
Answer to 1 and 2 query is you need to either revise the tds return or tag the challan online on traces.
Answer 3 query is if you deduct and deposit the tds in FY 2019-20 related with expense of FY 2018-19 then 30% of such expenses will be disallowed in AY 2019-20 and will be allowed in AY 2020-21.


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