banner_ad

TDS Sec 40(a)(i)

425 views 5 replies
TDS not deducted in the P.Y. 16-17 ,but it was deducted and deposited on 31 May 2017.Is the expenditure allowed in the P.Y. 16-17?
Pls give answer as per Sec 40(a)(i) of Income Tax Act.
Replies (5)
yes it shall be allowed in py 16-17 bcz it has been deducted n paid to govt upto due date of filing return for that year
But it was deducted in the subsequent year , not in the previous year.
If TDS deducted on 31st march 17 and paid on 31st May 17 (i.e. before the date of filling the IT Return) than expenditure allowed

But If TDS deducted on 31st May 17 and paid on 31st May 17 (i.e. before the date of filling the IT Return) than 30% of the expenditure will be disallowed in FY 16-17 and the same will be allowed in FY 17-18

Note: The above provision is related to deduction of TDS for Resident
no the expenditure will not be allowed in py 16-17. most importantly the relates to non deduction of tds on non residents & such sum shall be allowed in the year in which tds is deducted & paid.
since the tds has been deducted & paid before due date of filing return u/s 139(1) the expenditure will be allowed in py 17-18.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details