banner_ad

TDS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 September 2009 Sir
An individual ,who is subject to tax audit only from AY 2009-10, has constructed a building for his profession and has made some payments to contractors( during the Financial year 2008-09). What if he has not deducted tax at source?Please clarify.
Sree Prakash
Profile Image

CA SANJAY MUKHERJEE

Profile Image

CA SANJAY MUKHERJEE (Expert)
26 September 2009 The payments to contractors will be disallowed i.e. expenses will be added back to profit for computation of business income in addition to levy of penalty upto an amount equal to deductible TDS on the payment made.
Profile Image

Ratan Sharma

Profile Image

Ratan Sharma (Expert)
26 September 2009 He is not liable to deduct TDS as this is the first year of audit of his books of accounts. Therefore need not have to deduct the TDS.
Remember, Expenses if debited to profit & loss account can only be added back if the TDS is not paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details