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JHALAK KARMAKARJHALAK KARMAKAR asked 8 months ago

SIR TDS NOT DEDUCTED FOR FY 2019-20 AND HENCE TDS DISALLOWED @30% U/S 40(a)(ia)  BUT IN THE SUBSEQUENT YEAR TDS DEDUCTED AND PAID . NOW MY QUESTION IS UNDER WHICH CLAUSE I WILL BE REPORTING IN FORM 3CD FOR ALLOWABLE OF SUCH TDS (EARILER DISALLOWED)

1 Answers
RaviRavi Staff answered 8 months ago

If TDS is not deducted in current year, 30% of expense will get disallowed and we need to report this in clause 21.
 
If TDS is paid next year then, corresponding amount will be allowed as deduction, and this doesn’t need to be reported in current year tax audit report.

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