Tds issue
This query is : Resolved
Vanshaj Khera
(Querist)
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
Rupesh Jain
(Expert)
26 May 2016
no when you not making any exp. to the any one then no disallowed of exp under the income tax act.
Vanshaj Khera
(Querist)
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??
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- GSTR-9C filing
- Import Order Cancelled.
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Form 144 TDS Return Validation Error – Mandatory Fields
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
