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Direct Tax

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(Querist)
06 July 2009 if you donot deduct TDS and Remit it to the Government, You cannot claim it as business expenditure (Whether u call it as capital or Revenue Expenditure) - Please clarify.How we can treat it as expenditure?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
06 July 2009 It is a revenue expenditure. If you did not deduct tax on it that revenue expenditure will not be considered as a business expenditure for the purpose of income tax calculation/assessment. In such a situation also, the nature of the expenses will not change,it will sill be a revenue expenditure.
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Ratan Sharma

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Ratan Sharma (Expert)
06 July 2009 Agree with expert. It is still revenue expenditure debit it to P & L account.
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