Tds
This query is : Resolved
Sanjay Tiwari
(Querist)
09 June 2014
suppose TDS is not deducted on Rent & professional fees paid and the said expenses is booked in P&L A/c is it allowable as per income tax.
Ganeshbabu K
(Expert)
09 June 2014
It is disallowed if TDS not deducted
Ganeshbabu K
(Expert)
09 June 2014
It is disallowed if TDS not deducted
Sandeep Dharar
(Expert)
09 June 2014
As per me it will b allowed if paid other than Cash. And TDS should b deposited by the deductor from his own source if he forgets to deduct TDS.
Nikhil Kaushik
(Expert)
09 June 2014
no sandeep. If TDS is not deducted and deposited, it is disallowed.
However, the same can be allowed two cases:
under first proviso to section 40(a)(ia) in the year in which TDS is deposited in any future year or
under seond proviso if the deductee has paid the tax on the said income and has given certificate in Form 26A.
However, the same can be allowed two cases:
under first proviso to section 40(a)(ia) in the year in which TDS is deposited in any future year or
under seond proviso if the deductee has paid the tax on the said income and has given certificate in Form 26A.
10 June 2014
no it is not allowed as it needs to be deducted and then paid and claimed in profit and loss a/c
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