The assesse is a partnership firm engaged in the business of Construction work. For A.Y.19-20 they received demand for disallow u/s 40(a)(ia) on account of non-compliance with the provisions of Chapter XVII-B. They incurred labour cost worth Rs.51,00,000/- debited to profit and loss account on which TDS of Rs.51,000/- deducted on 31/03/2019 and paid in the month of October 2019 and filed form 26Q on 25/10/2019. The department has nade addition of Rs.15,30,000/- and raised demand for the same. The ITR5 was filed after payment 28/10/2019 and extended due date was 31/10/2019. Please advise.
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Disallow u/s 40(a)(ia) on account of non-compliance with the provisions of Chapter XVII-B
Replies (3)
Quick Summary
Depends on the Labour cost of 51 lacs, I'm assuming their T.O to be more than 1 crore and liable for tax audit. Plse check whether the corresponding details are correctly filled in both Tax audit and ITR. Seems to be a clerical error.
Justin
pls forward your demand to sabyasachimukherjee7098 @ gmail.com.
pls forward your demand to sabyasachimukherjee7098 @ gmail.com.
In case tax audit is applicable to the firm, there might be difference between ITR and tax audit report and the demand raise. so please contact your tax auditor for suggestion.
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