Disallowability us 40(ia)

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pradeep agrawal (Querist)
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07 January 2013 Hi dear
Pls guide me
Godown Rent dr. to profit and loss a/c. net Rs. 520000/- after deduction of godown rent received from company to keep their stock in godown. however actual rent paid Rs. 840000/- without deduction of TDS. whether whole amount Rs. 840000/- disallowed u/s 40(ia) or Rs. 520000/- as dr. to profit and loss a/c.

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Guest (Expert)

07 January 2013 The amount which is debited to Profit & Loss A/c will be disallowed.

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pradeep agrawal

pradeep agrawal (Querist)
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08 January 2013 Mr. Ketan Kumar
Thanks
However if rent paid as under Mr. X Rs. 250000/- Mr. Y Rs. 250000/- Mr. Z Rs. 150000/- Mr. A Rs. 100000/- Mr. B Rs. 90000/-. then in this case what will be disallowability after deduction of rent received amount. pls.

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Guest (Expert)

08 January 2013 Tax deductible on payments made to Mr. X & Y. In case tax not deducted the amount paid / credited shall be disallowed. No tax deductible on payments made to Mr. Z, A & B.

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