Regarding sec 40a(ia)
This query is : Open
pratik porwal
(Querist)
11 January 2017
Recently Supreme court has dismissed the SLP filed By Income Tax Dept. against the High Court Judgement in case of Vector Shipping Services Pvt. Ltd. .My query is that whether the Assessee is liable to deduct TDS only on the sums which are payable on the balance sheet date. The sums paid without deducting TDs during the year will be allowed as business expenSe?
CA Suresh Jain
(Expert)
11 January 2017
Still as per circular 10/DV/2013 dated 15.12.2013 applies to the States where high court has not delivered any decision on this point or High court has decided in favour of the department
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