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Income tax query......
TDS is applicable on prior period expense? Prior period expense already attract disallowance under income tax act , in adittion to this 40(a)(ia) 30% dissallowance applicable on same prior period expense? Total 130% dissallowance?🤔
Replies (2)
30% disallowance on prior period tds payable or deductible and not 100%
If tds is applicable on prior period expense , disallowance at 30%. If tds not applicable on prior period expense, disallowance at 100%.
Is this the right understanding ?
Is this the right understanding ?
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