If the turnover from business of an individual assessee does not exceed 60 lakhs
And he has made payments u/s 40a(i) /40a(ia) such as interest without deducting tax at source
Then does any disallowance arise in respect of these payments?
My View: no as the assessee will opt for presumptive taxation. So all adjustments are deemed to have been made.
pls help n tell me if i am correct
CAclubindia
