Disallowance U/s 40(a)
This query is : Resolved
06 March 2009
Pl resolve my issue:
Salary and turnover based commission has been paid to directors of the company but TDS has not been deducted at all. I want to know, whether salary and commission paid to the directors are disallowed in the hand of company and salary and/or commission paid to the directors be added back in the computation of income of the company.
Amrendra
Salary and turnover based commission has been paid to directors of the company but TDS has not been deducted at all. I want to know, whether salary and commission paid to the directors are disallowed in the hand of company and salary and/or commission paid to the directors be added back in the computation of income of the company.
Amrendra
06 March 2009
If TDS is not deducted, so it should be added back as provided u/s 40(a) for Income Tax purpose i.e. TDS under chapter XVIIB is not deducted or not been paid during PY or in the subsequent year, before the time prescribed u/s 200(1).
06 March 2009
Yes, If TDS provisions are not followed.
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