12 December 2013
if asseesse doesnt deduct tds and agree to pay amount equal to tds from his income then that payment for which tds must be deducted is allowed as expense?
12 December 2013
No it will not allowed. any direct tax exp will not allowed under any secs. further liability to deduct tax is on payer. Failure of which result in assessee in default. consequently penalty and int.will be levied.
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