TAX DEDUCTED AT SOURCE

This query is : Resolved

gajavalli prasad (Querist)
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24 August 2007 ONE OF MY CLIENT HAS DEDUCTED 9% T.D.S. ON INTEREST INSTEAD OF 10% ON INTEREST. IN THE TAX AUDIT REPORT WHETHER THIS EXPENDITURE IS DISALLOWABLE OR A COMMENT ON LOWER TAX DEDUCTION IS ENOUGH. I WANT CLARIFICATION WITH REGARD TO THIS

gajavalli prasad

gajavalli prasad (Querist)
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24 August 2007 REQUIRE CLARIFICATION

Jitender

Jitender (Expert)
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24 August 2007 only comment is required & not disallowance because it is lower deduction.

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Raj

Raj (Expert)
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24 August 2007 The Tax Auditor is not required to determine any admissable or inadmissable amount.

madhusudan

madhusudan (Expert)
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24 August 2007 As an auditor your requirement is to form an opinion and state the reqirements as per act in the 3CD form. In the form you just make a comment on this issue and it is then the Assessing Officer who may or maynot disallow it.