Dissallowance of exp.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 April 2014
HELLO SIR,
PLS TELL ME IF A PERSON HAS PAID THE EXP. OF RS. 150000 APPROX. DURING THE YEAR BUT DEDUCTED TDS ONLY ON THE AMT. OF RS. 90000 .WHEATHER THE WHOLE EXP. OF RS. 150000 WILL BE DISSALLOWED OR ONLY RS. 60000 WILL BE DISSALLOWED U/S 140(A)(IA)
PLS TELL ME IF A PERSON HAS PAID THE EXP. OF RS. 150000 APPROX. DURING THE YEAR BUT DEDUCTED TDS ONLY ON THE AMT. OF RS. 90000 .WHEATHER THE WHOLE EXP. OF RS. 150000 WILL BE DISSALLOWED OR ONLY RS. 60000 WILL BE DISSALLOWED U/S 140(A)(IA)
Santosh Kalburgi
(Expert)
27 April 2014
Expense can be claimed to the extent of only 90000.
If the expense is salary, then you need to work out if the person (employee) has any liability arising to pay income tax, if he has income not exceeding 2 lakhs then you are eligible to claim deduction of 150000.
Regards,
Santosh G Kalburgi
Cost Accountant, Bangalore
9742022309
If the expense is salary, then you need to work out if the person (employee) has any liability arising to pay income tax, if he has income not exceeding 2 lakhs then you are eligible to claim deduction of 150000.
Regards,
Santosh G Kalburgi
Cost Accountant, Bangalore
9742022309
Nikhil Kaushik
(Expert)
27 April 2014
1. while as of now disallowance shall be restricted only to Rs 60000, you have the option to pay tds before the due date of filing tax return under 139(1) and claim the deduction for Rs 60000 too.
2. Santosh - 40(a)(ia) is not applicable to salaries.
2. Santosh - 40(a)(ia) is not applicable to salaries.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- Applicability of tax on invoice
- Advances to related party
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Form 144 TDS Return Validation error
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
