disallowance on short deduction of tds
This query is : Resolved
Sowmya.S.Balan
(Querist)
05 September 2010
dear sir,
1.a company has deucted tax on payment to contractors(company-sub contract) @ 1% instead of 2% after oct 1st, 2009 on the contract amount of Rs 50000 what amount to be disallowed u/s 40(a)(i)
2.Company deducted tds on salary but after deuction there is tax payable. whether any disallowance on that & if yes under what section
can you please answer my queries urgently
1.a company has deucted tax on payment to contractors(company-sub contract) @ 1% instead of 2% after oct 1st, 2009 on the contract amount of Rs 50000 what amount to be disallowed u/s 40(a)(i)
2.Company deducted tds on salary but after deuction there is tax payable. whether any disallowance on that & if yes under what section
can you please answer my queries urgently
CMA Ramesh Krishnan
(Expert)
05 September 2010
Q.1 There is no specfic disallowance provision for short deduction of TDS u/s.40a(ia),but my view the proportionate amount may disallow but based on fact of the case only this need to decide
Q.2. Salary payment not covered under sec.40(a)(ia), hence no disallowance
Q.2. Salary payment not covered under sec.40(a)(ia), hence no disallowance
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