Tds issue
This query is : Resolved
26 May 2016
Our Parent Company is in Japan and we have a staff of Japanese people who are getting Salary from Japan and India also.We made a payment of Rs 60000/- as professional fees for japanese Staff. However this amt is debited to Suspense A/c as this amount will be reimbursed to us By Japanese Parent Co..
So my Ques is..we have not deducted TDS on this payment. Will 30% Expense will be disallowed as per sec 40(i)(a).
But we are not claiming any expenditure(it is debited to suspense A/c), So hot it can be disallowed.
What are the consequences or is it ok??
Thanks in advance
So my Ques is..we have not deducted TDS on this payment. Will 30% Expense will be disallowed as per sec 40(i)(a).
But we are not claiming any expenditure(it is debited to suspense A/c), So hot it can be disallowed.
What are the consequences or is it ok??
Thanks in advance
26 May 2016
no when you not making any exp. to the any one then no disallowed of exp under the income tax act.
26 May 2016
Sir is there any Section or Law etc.
Can you provide any reference for the same??
Can you provide any reference for the same??
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