TDS not deducted - consequences
This query is : Resolved
23 April 2008
Please let me know which Section of Income Tax Act says - expenditure is not allowed in the year of payment in case TDS not deducted during that year?
Are there any exception to the rule?
Are there any exception to the rule?
23 April 2008
TDS if disallowed u/s 40(a) is allowed in the year of payment. No exceptions
23 April 2008
Some memeber in this forum had mentioned few days back that TDS on Salary is an exception. Can you please confirm this?
Will the expenditure allowed in a year if the TDS is SHORT deducted during that year?
Will the expenditure allowed in a year if the TDS is SHORT deducted during that year?
23 April 2008
because sec 40(a) does not cover sec 192 i.e salary.
but if tds is not deducted on salary, penalty provisions are still applicable.
but if tds is not deducted on salary, penalty provisions are still applicable.
23 April 2008
If TDS is SHORT deducted on an expenditure in a financial year, will the expenditure be allowed as deduction in that financial year?
CA Hemant T Dewani
(Expert)
23 April 2008
only up to the deduction of tax is allowed expences in that year
23 April 2008
Dear Hemant Sir,
Your answer is not clear to me. I request you to kindly explain it.(If possible, with an example)
Thanks.
Your answer is not clear to me. I request you to kindly explain it.(If possible, with an example)
Thanks.
CA. Yayati Tyagi
(Expert)
05 May 2008
example :
total exp.: 10,000
tds rate : 2%
deducted :100 (in place of 200)
expenditure allowable : only 5,000
total exp.: 10,000
tds rate : 2%
deducted :100 (in place of 200)
expenditure allowable : only 5,000
25 August 2008
proportionate disallowance will be made if tds is shortly deducted.
25 August 2008
proportionate disallowance will be made if tds is shortly deducted.
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