TDS PROVISION APPLUCABILITY

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28 Points Posted on 26 December 2020
Assessee liable for tax audit.
He incurred personal expenditure which is disallowed.
But such personal expenditure he charged to capital account as a drawing.
then for such expenditure TDS Applicable or not .
he cross all the limits of tds provisions.


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On 26 December 2020 at 18:05 Report
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This discussion explores whether Tax Deducted at Source (TDS) applies to personal expenditures that an assessee, liable for a tax audit, has charged to their capital account as drawings. The consensus is that TDS is not applicable on personal expenditure, even if it crosses TDS limits. The assessee remains liable for tax audit regardless.

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Chartered Accountant
24588 Points Posted on 26 December 2020
No tds is applicable on personal expenditure and also assessee is liable for tax audit
1 Reply
On 26 December 2020 at 18:11
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257 Points Posted on 26 December 2020
@ sourav👆
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On 26 December 2020 at 20:53

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