TDS u/s 194C
This query is : Resolved
PRASHANT SHENOY U
(Querist)
02 July 2008
Is deduction of TDS required for Transportation Charges paid for purchase of machinery, since the same is capitalised? If no TDS is recovered, then what is the treatment u/s 40(a)(ia)?
02 July 2008
TDS is required
PRASHANT SHENOY U
(Querist)
03 July 2008
If TDS is required for Transportation Charges paid on purchase of new machinery, what is the consequence if no TDS is recovered? Pls. note that the amount is not an expenditure but is capitalised. How is the amount disallowed?
CA Anand Sarda
(Expert)
04 July 2008
Though the amount is not an expenditure, it will added to ur taxable profits.
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