i have partnerships firm have chosen to file ITR on presumptive basis...
tds provision applicable to firm,so if i dont deduct tds how expenditure will be disallowed in case of presumptive taxation
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Tds disallowance for presumptive taxation
Replies (6)
The corresponding amount would be added as additional income and taxed accordingly.
As per my view it will disallowed because as per sec 44 AD 8% / 6 % is only the mechanism to compute tax liabilities
also support by judgement in case of
ITO vs Mark Construction and CIT vs Surindra pal Anand
also support by judgement in case of
ITO vs Mark Construction and CIT vs Surindra pal Anand
But disallowance is covered us 40 which is overridden in case of presumptive taxation
so how disallowance can be attracted by the section that has been overridden
so how disallowance can be attracted by the section that has been overridden
I think no disallowance in the case of presumptive taxation
No disallowance in the case of presumptive taxation.
Thank you to all...i also believe there can be no disallowance as these sections is overruled in presumptive taxation
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