Statutoru payment
This query is : Resolved
Krishnakant
(Querist)
11 October 2011
as per Income Tax, if all Statutory Payments like Service Tax, TDS, VAT are not paid before 30th Sept every year, then all these payments are "Disallowed", Can u tell me what is meaning the word "Disallowed" & can u please tell me the alternate effects of Disallowed payments...
CA Ashwani Agarwal
(Expert)
11 October 2011
It simply means that while calculating your taxable income, the deduction of these expenses will not be given to you because of which your income will be higher and you will have to pay more tax.
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