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Tds v/s 40(a) (i)

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(Querist)
05 January 2012 As per Sec 40(a)(i) cartein payments are not deductible from business income when TDS is not deducted

with in said dua dates...!!!!!!!!!!

My doubt is Mr.A deducted from Mr.X (contractor) of amount Rs.1,000 as per 194C on amount Rs.1,00,000 .

But Mr.A is deposited only Rs.500 to the credit of C.Govt .

In this case can Mr.A claim expenditure Part amount or not???



Thanks in advance
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
05 January 2012 Yes he will claim expenditure for part amount. but he will liable for shortfall tds payment.
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Vineet Goyal

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Vineet Goyal (Expert)
06 January 2012 Yes, he can claim part amount.




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