Tds and 40a(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2011
Dear Expert,
Our client is in construction business. It paid commission on flat sale rs 500000/- in cash, No TDS has been deducted.
1] u/s 40A(3) will attract, hence disallowed.
2] 40 (i)(a)- disallowance due to non Deduction of Tax
Same amount is disallowing twice.
Is it the case of double taxation.
Our client is in construction business. It paid commission on flat sale rs 500000/- in cash, No TDS has been deducted.
1] u/s 40A(3) will attract, hence disallowed.
2] 40 (i)(a)- disallowance due to non Deduction of Tax
Same amount is disallowing twice.
Is it the case of double taxation.
CA. Nitin Agrawal
(Expert)
24 August 2011
There will be two consequences of the transaction you mentioned:
1. Dis-allowance of Exp. U/s 40A(3)&
2. Penalty for don deduction of TDS u/s 271C.
1. Dis-allowance of Exp. U/s 40A(3)&
2. Penalty for don deduction of TDS u/s 271C.
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