24 October 2008
The terminology used in Section 40(a)(ia) is 'PAYABLE' any royalty,fees,commission ,brokerage payable or any amount payable to a contractor etc.
Does it mean that any amount which is PAID during the year as royalty,fees,commission ,brokerage or an amount paid to a contractor on which tax is not deducted or deducted but not paid is still allowable? Yes,it seems from the wording, if read carefully .
CAclubindia
