Forums
Back
Why in part b answer the director remuneration is available on PYB23-24 instead of 22-23…?
Direct Taxation
If TDS is deducted before April 30th and paid within due date of filing then why is it deductible only in 23-24 instead of 22-23
Answers (5)
Best Answer
Sec 40(a)(ia) states "30% would be DISALLOWED of any sum payable to a resident, on which tax is deductible at source under Chapter XVII-B and such tax has not been deducted or, after deduction, has not been paid on or before the return due date : Proviso says where tax has been deducted in any subsequent year, or has been deducted during the previous year but paid after the return due date, 30% of such sum shall be ALLOWED as a deduction in computing the income of the previous year in which such tax has been paid :
Sudha Reddy
Question states a new scenario that it was deducted and paid in April 23, hence its allowed in 23-24 In the first scenario (beginning of question) tax is not deducted and there is no mention of it being deposited
Sir what is the meaning of this sentence? (Credited in march ,2023 and paid in april 2023)
Amit Pandit
Sir what is the meaning of this sentence? (Credited in march ,2023 and paid in april 2023)
It means passing entries in tally/books of accounts
Amit Pandit
Sir what is the meaning of this sentence? (Credited in march ,2023 and paid in april 2023)
They are 2 both independent scenarios First scenario - credited in March 23 but tds not deducted. No deduction so no tds deposited Second scenario - IF, paid in April 23
Your Reply