disallowance u/s 40a ia
Kaushal Parmar (32 Points)
21 June 2019
If TDS is not deducted on salary, will disallowance u/s 40(a)(ia) be applicable??
5 Replies
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 21 June 2019
then too because all TDS provisions are applicable to trust as well
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 21 June 2019
1. Yes, for any expenses for which TDS is required to be deducted but fails to deduct, disallowance of 30% of such expenses will be attracted u/s 40(a)(ia)
2. Finance Act 2018, Sec 40(a)(ia) will also be applicable to Charitable Trust if it fails to deduct TDS.
3. 30% of such expense not be considered as an application of income. However, in the year of remittance, it will be allowed as a deduction.
Please correct me if the above solution has an alternative view
Recent Topics
- Applicability of Public Trust Registration for 12A
- GST input for the business service
- Account type error
- I am 35 What to do
- GSTR-3B Sales and Tax Liability Correction
- Full Exemption on Capital gain
- Credit Note to suspended GSTN
- ITR 2 utility error
- GST Registration for Postal Agent
- COMMUNICATION ON GST PORTAL BETWEEN DEALER
Related Threads
Trending Online Classes
CAclubindia
