Hello everyone
Would like to have ur opinion on the following issues :
1. interest Paid to Chola DBS finance Ltd whether liable for TDS ????
2. During the Previous year there was vat audit and there was some difference and due to that there was some outgo of payment. Whether this amount is allowed as expenditure or it has to be disallowed??
HI rakesh
Case 1
Yes interest paid to NBFC's is liable to tds @ 10% u/s 194A
Case 2
there is no case of allowed or disallowed
this is a demand order of vat liability which is not an expenditure
If u would have booked correctly then also that would be in your duties&taxes head in current liability.
CAclubindia
