Business Income
This query is : Resolved
26 June 2010
Hi sir,
Xltd company paid salary to a non-resident after deducting TDS,but he failed to deposit the TDS
My Question:-Whether the company can deduct salary paid as business expendiure u/s 37(1) or not?
Xltd company paid salary to a non-resident after deducting TDS,but he failed to deposit the TDS
My Question:-Whether the company can deduct salary paid as business expendiure u/s 37(1) or not?
deepak K Gujrati
(Expert)
26 June 2010
For Asst Year 2010-11, TDS has to be paid on or before due date for filing of Return. If salary has to be allowed as a business expenditure , TDS has to be deposited before due date as mentioned in section 139(1).
Aditya Maheshwari
(Expert)
26 June 2010
The same will be disallowed in section 40(a)(iii) as salary has been paid to a non resident and TDS has been deducted but not paid.
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