What is the consequences, without collecting TCS from the purchaser, the amount has been paid out of their own pocket?
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TCS Paid out of own Money?
Replies (3)
statuary liabilities has to be meet in all circumstances, if the businessman paid it from own pocket, then it would go to his drawings.
Sorry, it is a private ltd company.
i feel it would not get allowed as expenditure and would get added back for tax computation.
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