TDS on payments under section 195
This query is : Resolved
15 September 2009
Company fail to deduct and pay TDS which is related to November 08, later on TDS deducted in March 09 and paid in June 09, in the present case whether disallowance u/s 40(a)(i) will apply ????, case is purely related to foreign transaction. Here foreign payment still due. My understanding in foreign transaction also TDS have to deduct at the time of credit or payment which ever is earlier, here credit was in Nov 08 and TDS deducted in March.
15 September 2009
Hi Jitender thanks for your reply.
Section 195 also mandates TDS to be deducted at the time of credit or payment which ever is earlier, in this case credit is in Nov08 but TDS deduction is in march, so there is no problem for the same?
Section 195 also mandates TDS to be deducted at the time of credit or payment which ever is earlier, in this case credit is in Nov08 but TDS deduction is in march, so there is no problem for the same?
15 September 2009
u will not allow deduction of expenditure u/s 40 (ai) there are specific provisions for non residents payments.
15 September 2009
Thank you bikash
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
