27 March 2008
Assessee makes payment for transportation charges for carrying machinery from the place of manufacturer to his own place Rs.250000/- and TDS not deducted on payment. What will be the effect u/s 40 a (ia)? What will be amount of dis allowance because assessee has capitalized the transportation charges in machinery account?
28 March 2008
Nothing will be disallowed u/s 40(a)(ia) because this section clearly speaks about expenditure and you have capitalised your transportation cost & not charged to profit & loss account.
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