SECTION 40(a)(ia)
This query is : Resolved
25 September 2009
WHETHER TDS NOT DEDUCTED ON INTEREST GIVEN TO RELATIVES AND COMMISSION GIVEN TO RELATIVE REQUIRED TO BE REPORTED AND DISALLOWED U/S 40(a)(ia)?
Ratan Sharma
(Expert)
25 September 2009
Yes, certainly.
25 September 2009
yes vrushali , if tds is not deducted, then the expense will be disallowed .
also check 40A(2) since the payment is made to a relative
also check 40A(2) since the payment is made to a relative
CA.Tarun Maheshwari
(Expert)
26 September 2009
But you should immediately deposit the TDS so that it can be claimed in Next financial year. And pls look at the date of payment of Interest. If it is in March, then you still have time for deposit of TDS.
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