Expense allowable??
Querist : Anonymous
TDS has NOT been deducted.
The assessee has deposited the TDS from its own pocket and shown the sum as recoverable.
Will the advertisement expense be allowed as deduction??
Please refer Section & case law, if any.
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if tds deductable and tds not deducted it is disallowed and required to be reported in tax audit report
Querist : Anonymous
2. For 40(a)(ia) shall not be applicable in this case anyways, refer second proviso to the section.
3. You need to pay to the receiver the TDS amount to close your books.
4. Even in case TDS was not deducted at all but the receiver had paid taxes (income tax) on it, 40(a)(ia) cannot be invoked.
So in nutshell the said expense shall be allowed.
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as and when you collect that tds amount from party their debit balance in your books will get nullified
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