disallowance of expenditure under B/P
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2011
sir salary paid to resident employee in india without deducting TDS then it will be allowed in computing business income or not in assessement year 2011-12
if not allowed under which section.
if not allowed under which section.
04 March 2011
Salary is not covered u/s 40(ia) of the I.T. Act. You will get full deduction of the amount of salary paid even no tDS is deducted.
Message likes :
1 times
04 March 2011
It is allowed
Message likes :
1 times
11 March 2011
Hi,
Though it will be allowed as a deduction, the provisions of Sec 271C will be applicable, which says
"Any person failing to deduct tax at source, wholly or partly U/Sec 192 to 196D {Chapter XVII-B} will be levied penalty equal to tax not deducted"
Thank You,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Though it will be allowed as a deduction, the provisions of Sec 271C will be applicable, which says
"Any person failing to deduct tax at source, wholly or partly U/Sec 192 to 196D {Chapter XVII-B} will be levied penalty equal to tax not deducted"
Thank You,
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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