SECTION 40(a)(ia)

This query is : Resolved

Vrushali (Querist)
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25 September 2009 WHETHER TDS NOT DEDUCTED ON INTEREST GIVEN TO RELATIVES AND COMMISSION GIVEN TO RELATIVE REQUIRED TO BE REPORTED AND DISALLOWED U/S 40(a)(ia)?

Ratan Sharma

Ratan Sharma (Expert)
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25 September 2009 Yes, certainly.

Rajeev

Rajeev (Expert)
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25 September 2009 yes vrushali , if tds is not deducted, then the expense will be disallowed .

also check 40A(2) since the payment is made to a relative

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CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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26 September 2009 But you should immediately deposit the TDS so that it can be claimed in Next financial year. And pls look at the date of payment of Interest. If it is in March, then you still have time for deposit of TDS.

Vrushali

Vrushali (Querist)
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27 September 2009