TaxTMI 
TaxTMI 
Amendment in Section 40(a)(ia) Dear Freinds, There has been a retrospective change in above said section,now for amount disallowed on account of deposit of TDS after March 2007 in our returns for the A/Y 2007-08 shall we show it as allowable in our current returns to be filed on or before 30th September 2008 (i.e in return of A/Y 2008-09) as we used to do in past or shall we revise A/Y 2007-08 return and allow the exp. in that year itself. Regards
Revise return
12 Aug 2008 
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TDS deposit timing affects deductibility: claim deduction in the year tax is deposited or revise earlier return if permitted.
Amendment to Section 40(a)(ia) is subject to statutory revision and assessment bars; deductions disallowed for non-deposit of TDS can be claimed in the year the tax is actually deposited, unless a permissible revision or corrective remedy (such as rectification, appeal grounds or revision petition) is available to secure an earlier-year allowance. Claim must be made in one year only, and taxpayers should choose revision or subsequent-year claim based on which yields greater benefit. (AI Summary)
Amendment to Section 40(a)(ia) is subject to statutory revision and assessment bars; deductions disallowed for non-deposit of TDS can be claimed in the year the tax is actually deposited, unless a permissible revision or corrective remedy (such as rectification, appeal grounds or revision petition) is available to secure an earlier-year allowance. Claim must be made in one year only, and taxpayers should choose revision or subsequent-year claim based on which yields greater benefit. (AI Summary)