If in ass. Year 2009-10 we paid 700000 Rs to transporters without deducting TDS under section 194C .
AO disallow the expenditure & increase the income by 700000.
can we paid TDS on Rs 700000 today & claim Expenditure in current year
If yes please tell me the procedure to do this .
Absolutely Yes....Provisio to Section 40(a)(ia) specifically allows the deduction of such expenditure in the year in which TDS is paid....
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