Dear all,
if TDS is dedcuted under 194C for the contract for constructing the office buiding but not remited within the date, should we disallow the payments to contractor.......... But its a acquisition of fixed asset..
Menu
40(a) - construction of building
Replies (1)
Hi Gopalakrishnan,
To disallow the patment to contractor will depend on the terms of contract. As for tax purpose you will only be allowed to claim it as deduction when remitted within due date then this assesment year or else next assesment year when payment is made to govt.
the work contract will come under 194C except for supply of material or goods.
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
