Disallowance under section 40(a)
This query is : Resolved
14 February 2012
Dear Sirs,
In our case advance amount paid to a contractor for carrying out labour contract. but fails to deduct TDS . Such amount is shown as advance under current assets in balance Sheet and not shown in Profit & loss account during the year. whethre it is required to disallow in computation ? I am asking such queastion because such amount will be transferred to expenses in the coming year
In our case advance amount paid to a contractor for carrying out labour contract. but fails to deduct TDS . Such amount is shown as advance under current assets in balance Sheet and not shown in Profit & loss account during the year. whethre it is required to disallow in computation ? I am asking such queastion because such amount will be transferred to expenses in the coming year
14 February 2012
As per my mind it is not required to disallow since you are not deducting the same from your income...
But it can not save you from default made under chapter XVIIB...
Other views may be awaited...
But it can not save you from default made under chapter XVIIB...
Other views may be awaited...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
