Prior period rent Rs. 350000 FY 2018-19 paid during the current financial year 2019-20 then tds is applicable on such expense? prior period expense is not allowable as deduction, additionally dissallowance under section 40(a)(ia) is attracted in this case?
TDS deduction shall be at time of credit to party or payment whichever is earlier. If not deducted and paid prior to date of roi of that FY then 30percentage expenses will be disllowed if it is to resident otherwise 100% disallowed
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