Disallowance u/s 40(a)(ia)
This query is : Resolved
16 September 2011
Sir,
TDS on advertisement contract from a company is deducted at 1% not 2%.Does this qualify as disallowance u/s40(a)(ia).If it does only the full amount must be disallowed as there is nothing mentioned on disallowance made on %basis i.e in this case disallowing 50% of the expenditure because only 1% is deducted.
TDS on advertisement contract from a company is deducted at 1% not 2%.Does this qualify as disallowance u/s40(a)(ia).If it does only the full amount must be disallowed as there is nothing mentioned on disallowance made on %basis i.e in this case disallowing 50% of the expenditure because only 1% is deducted.
CA Navin Jain
(Expert)
16 September 2011
EXPENSES SHALL BE DISALLOWED IN PROPORTIONATE.
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