Dear Sir,
One of Our Clients, a Private Limited Company is paying Rent of Rs. 260000/- per Month plus Service Tax @ 12.36% thereon and the company is dedicting TDS as per the rates in force.
The Company was incorporated in the month of November 2013 and Rent started from the month of December 2014. The Rent for the 1st Month i.e. 260000+32136-26000=266136/- was paid in cash on different dates in the month of january which were all below Rs. 20000/- for which money receipts are being obtained accordingly. However, the bill for the rent is for the entire month. Can there be any objection under Section 40A(3) as regards this transaction. Please suggest
CAclubindia
