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Non payment of TDS & Allowability of Exp.

This query is : Resolved 
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(Querist)
28 February 2009 Respected sir



My query is as below:



1) Assessee is engaged in development & construction of residential & commercial properties.

2) Assessee has provided towards Architect fees during 2007-08 which was trs. To WIP (Work in Progress) as on 31.03.2008.

3) Assessee has not paid fees as well as TDS on above fees till 30.09.2008.

4) Assessee argues that as expenses is capitalized & hence provision of disallowance u/s. 40 is not applicable.

5) Assessee wants to know treatment of above fees while computing income under the head “Business or Profession”.



Awaiting your reply on the above.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
28 February 2009 Yes.
The amount will be disallowed in 2007-08 and subsequently allowed when the payment is made.
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