Disallowance of expenditure
This query is : Resolved
13 February 2015
sir,
as most of us are aware that when TDS is deducted on any expenditure and not paid, then that expenditure will be allowed in the year in which it is paid.
but what if TDS has not been ducted at all in the preceeding previous year and if we now want to deduct it and pay it, will that expense be allowed?
as most of us are aware that when TDS is deducted on any expenditure and not paid, then that expenditure will be allowed in the year in which it is paid.
but what if TDS has not been ducted at all in the preceeding previous year and if we now want to deduct it and pay it, will that expense be allowed?
13 February 2015
Yes it can be deducted and paid so that expenses will be allowed during the year.
14 February 2015
sir, can you please tell me a section or any case law supporting this
14 February 2015
See the link.
https://www.caclubindia.com/articles/income-tax-tds-and-section-40-a-ia-2012-amendment--20784.asp#.VN7rzOaUeik
https://www.caclubindia.com/articles/income-tax-tds-and-section-40-a-ia-2012-amendment--20784.asp#.VN7rzOaUeik
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