Hi
One CA was of the view that since expenses are disallowed (u/s 40(a)(ia)) in case tax has not been deducted at source, there can be no ground for levying penalty u/s 271 C
Is this view correct
Regards
Subbaiya
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Penalty for non deduction of tax at source
Replies (2)
penality is levied if he failed to deduct the TDS
on the amount i.e deduction is the crieteria. if he fails to deposit no penality is levied but the whole amt is disallowed
40(a)(ia) covers both, non deduction as well as non remittance
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