Disallowance u/s. 40(a)(ia)
This query is : Resolved
01 January 2010
For disallowance u/s. 40(a)(ia), is it necessary that firstly expenses should be debited to P&L A/c?
Consider the following case...
Company A pays Interest or Professional fees on behalf of Company B & deducts TDS & pays late to Government. However the said expense has not been debited to P&L of Company A but debited to P&l of Company B.
Which company will suffer Disallowance for late payment of TDS?
Consider the following case...
Company A pays Interest or Professional fees on behalf of Company B & deducts TDS & pays late to Government. However the said expense has not been debited to P&L of Company A but debited to P&l of Company B.
Which company will suffer Disallowance for late payment of TDS?
CA. B.SRINIVASULU
(Expert)
01 January 2010
Company B should suffer disallowance for late payment of TDS by Company A.
Here company become Representative of Company B and all losses has to be suffered by B only.
Here company become Representative of Company B and all losses has to be suffered by B only.
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