18 January 2010
during p.y 08-09, total brokerage of Rs. 10 lacs (TDS Rs. 1.03 deducted)and TDS was not deposited before the due date of Return. However, as on 31.03.2009, bokerage payable was Rs. 5.00 lacs only and TDS payable 1.03 lacs. Which amount is to be disallowed u/s 40 (a) whether 10.00 lacs or Rs. 5.00 lcas because this section say any amount which is payable to resident shall be disallowed
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