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disallowance u/s 40a ia
If TDS is not deducted on salary, will disallowance u/s 40(a)(ia) be applicable??
Replies (5)
yes it will
what if it is a charitable trust ?
then too because all TDS provisions are applicable to trust as well
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
thank you for your valuable response.
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