tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 January 2011 As I am deducted for person whose payment not exceed 30000 in ayear (professional) and not paid the deducted amount ,can I claim that expenses as deduction in the computation of income on the ground that I am not liable to deduct tax or otherwise its not deductible ? please clarify

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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26 January 2011 Yes you can claim as the amount paid does not attract TDS. You can refund the TDS amount to deductee.

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2011 is that deduction caught under 43B and liable to be disallowed

Guest

Guest (Expert)

28 January 2011 Query is not clear

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 January 2011 You have wrongly deducted and now you are refunding the TDS amount to party hence no question of any disallowance arises.

Guest

Guest (Expert)

29 January 2011 Yes agree with Mr. Gupta

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