27 January 2016
There is sister concern which paid advance tax and t.d.s on behalf of its sister concern. Are these payment come under section 40a(2b)??
28 January 2016
Advance tax and TDS are not expenditure. Hence, not deductible. The firm makes payment on behalf of its other sister concern by debiting its a/c and show in the B/S as receivable from its sister concern.
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