Disallowance u/s 40 a (ia)
This query is : Resolved
27 March 2008
Assessee makes payment for transportation charges for carrying machinery from the place of manufacturer to his own place Rs.250000/- and TDS not deducted on payment.
What will be the effect u/s 40 a (ia)?
What will be amount of dis allowance because assessee has capitalized the transportation charges in machinery account?
What will be the effect u/s 40 a (ia)?
What will be amount of dis allowance because assessee has capitalized the transportation charges in machinery account?
CA Praveen Chopra
(Expert)
28 March 2008
Nothing will be disallowed u/s 40(a)(ia) because this section clearly speaks about expenditure and you have capitalised your transportation cost & not charged to profit & loss account.
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