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Tds return after disallowance under section 40(i) (ia)
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| Originally posted by : chanderdeep singh saini | ||
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If Disallowance of expenditure under section 40(a)(i)( for non deducting TDS on relevant exp) is made during previous year and then subsequently depositing relevant TDS of earlier years, for claiming related expenditure allowable during current year after depositing TDS on that expenditure, how and in which year Payee CAN get Relevent Credit of amount of tds, if Payer files the Revised TDS return during current year? Or Payer has to file the revised TDS returns of respective years in order to enjoy relevant credit by PAYEE? Please advise . |
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If TDS is made but not deposited, in that case payee will claim TDS credit for the relevant year itself. However if TDS is not made at all and hence if payer faces the disallowance the practically payer will have to pay TDS out of pocket as payee may not accept delayed TDS. However if payer debits the account of payee in the next year of disallowance and deposits the TDS for the earlier year then payee will have to revise his ITR if he wants to claim the TDS credit.
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