Tds on curing charges

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2014 for ay 2008-09 we have not deducted tds on curing charges (194c) to a individual who is a partner of the firm to whom we have not deducted tds assuming that deductee/payee is not having taxable income and also having carry forward of loss. will the expenditure is disallowed or whether i will get any case law to protect me from disallowance.

please claryfy

Sandeep Dharar

Sandeep Dharar (Expert)

15 May 2014 The expenditure will b disallowed if it is made on cash above Rs 20K n not due to non deduction of TDS. U may receive notice from tdscpc for non deduction of TDS(only if it is attracted u/s 194C).

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2014 PAYMENT WAS NOT MADE ON CASH BASIS ITS ONLY AN ADJUSTMENT ENTRY. ITS A RUNNING ACCOUNT IN BOTH THE FIRMS

Sandeep Dharar

Sandeep Dharar (Expert)

15 May 2014 So it will not b disallowed.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2014 ON WHICH GROUND U ARE SAYING IT WILL NOT BE DISALLOWED. PLEASE SAY

Sandeep Dharar

Sandeep Dharar (Expert)

15 May 2014 What u wana ask? Do u want that this amount b disallowed? If yes then its k. By the way u need to study section 40(A)(3)