Tds issue

This query is : Resolved

Vanshaj Khera (Querist)
Follow

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

Rupesh Jain

Rupesh Jain (Expert)
Follow

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

Vanshaj Khera (Querist)
Follow

26 May 2016 Sir is there any Section or Law etc.
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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DEEPAK BHARGAVA

Dinesh kumar

CA Varun Gupta

Raviraj ponkshe

Shunmugavel Manohar

Subscribe Now

Tds issue

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

Article Assistant

Accountant

GST CONSULTANT

GST CONSULTANCY