Disallowance U/S 40(a)(i) of the Income-tax Act, 1961
This query is : Resolved
12 November 2008
One of my client is an 100% EOU and hence his income from export turnover is totally exempt. However, he has not deducted TDS on Freight charges paid.
Is the expenditure is subject to tax if disallowed. In such a case is he liable to tax/interest/penalty.
Kindly clarify
P. srinivasa
Is the expenditure is subject to tax if disallowed. In such a case is he liable to tax/interest/penalty.
Kindly clarify
P. srinivasa
12 November 2008
Refer my solution in 1st query of urs
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