Disallowance of expenses

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Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Is there any disallowance, if tds is not deducted on advances

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 July 2013 advances? what is the nature of transaction.

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Advances given for expenses, e.g. labour charges

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Advances given for expenses, e.g. labour charges

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 July 2013 yes,
tds if actually deductible on any advance and if not deducted then such exp is disallowed.

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 but, current year we receive only advance , there is no expenditure incurred , than what to disallow?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 July 2013 advances given are exp only paid in adv so for current year it will go to profit and loss a/c.

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