TDS and 40A(3)
This query is : Resolved
07 July 2009
two bills of RS 18000 and 12000 of different days are paid on a same day in cash. will 40a(3)be attracted ?
two bills of RS 18000 and 12000 of contract raised on different days are paid on a single day . Is TDS liable to be deducted ?
two bills of RS 18000 and 12000 of contract raised on different days are paid on a single day . Is TDS liable to be deducted ?
07 July 2009
Hi Dhruv.
1. As payment of both the bills are made on the same day and total amount exceed Rs. 20,000/- therefore it will be disallowed u/s. 40(a)(3).
2. As both the bills are below Rs. 20,000/- No TDS is required to be made u/s. 194C.
1. As payment of both the bills are made on the same day and total amount exceed Rs. 20,000/- therefore it will be disallowed u/s. 40(a)(3).
2. As both the bills are below Rs. 20,000/- No TDS is required to be made u/s. 194C.
07 July 2009
it will not be disallowed as bill amount for each bill is less than 20000.
tds is not deductible.
tds is not deductible.
07 July 2009
There is an amendment in sec. 40(a)(3) that if the payment is made in a single day in excess of Rs. 20000/- , even in installments below Rs. 20000/- then the same will be disallowed.
07 July 2009
1)Sec.40(A)(3) is attracted.It will be disallowed.
2)TDS is not applicable.
2)TDS is not applicable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
