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Section 40 A (3) of Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 September 2010 If any assessee pay expense of say Rs 22000 and on it he deducts Rs 3000 as a TDS and Make payment in cash of RS 19000/- will such expense will be disallow under income tax act Sec 40A(3)

SANJAY TALATI

SANJAY TALATI (Expert)
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07 September 2010 TDS deduction is equvilanet to payt made as the deductor has to deposit the same with the Govt. and issue the certi. on which the payee get the credit.

However, the actual payt after TDS payt does not exceed Rs. 20,000/- and hence, sec. 40A(3) will not get attracted.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 September 2010 Actual payment is less than Rs.20000, hence sec.40A(3) not attract

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