24 December 2009
A proprietorship trnasport company has paid freight to subcontractors in the A.Y.2004-05 but has not deducted tax at source on freight payment. IS there is any liability on the transporter? If yes then how to save from the litigation?
Pls tell me ASAP.
Secondly he is taking loan from the tata finance company Rs. 350000 and paid five monthly installment of Rs. 5125/- each in cash then there is nay liability U/s 269T
25 December 2009
In both cases there is no liablity on the transporter. in first case the expenses is disallowed and in 2nd case 269t is not applicable as the amount paid in not more than 20000/-.
25 December 2009
As your Case is for A.Y. 2004-05 , you can't do any thing you have to pay taxes . and simmilarily you can cliam it in the A.Y. in which you have paid taxes.
CAclubindia
