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Tds

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(Querist)
04 January 2013 sir,
if we capitalize labour expenses in building then is it compulsory to deduct TDS ON LABOUR EXPENDITURE??
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Guest

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Guest (Expert)
04 January 2013 To capitalize or not is an issue from accounting & financial reporting point of view. Taxation shall remain unaffected with the treatment given in books. So TDS shall be deducted & deposited as usual.
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Pankaj Gupta

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Pankaj Gupta (Expert)
04 January 2013 I do agree with the expert. Tds should be deducted.
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kunal

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kunal (Querist)
05 January 2013 sir, if we capitalize the amount of labour charges in building
& forgot to deduct tds on labour charges
is disallowance u/s 40 a attracted??

as u/s 40 a
disallowance of expenditure is only respect of income chargeable u/h pgbp
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Guest

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Guest (Expert)
05 January 2013 TDS is to be deducted on amount paid / credited irrespective of whether you capitalize the amount or charge it to revenue. The IT Dept is concerned with collection of tax, thats it.
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