T.D.S.
This query is : Resolved
02 October 2010
Mr. X has taken a vehicle loan from NBFC (TATA Finance and Cholamandalam).
Mr. X has paid interest of Rs. 74,000.00 without T.D.S to NBFC.
Mr. X is audited individual concern.
Assessing officer wants to disallow the interest expenses as no T.D.S is deducted.
Is action of A.O. is correct?.
Mr. X has paid interest of Rs. 74,000.00 without T.D.S to NBFC.
Mr. X is audited individual concern.
Assessing officer wants to disallow the interest expenses as no T.D.S is deducted.
Is action of A.O. is correct?.
02 October 2010
Hi Rajendra Kumar,
The liability of deducting TDS lies with Tata finance . Thus the expense can not be disallowed
The liability of deducting TDS lies with Tata finance . Thus the expense can not be disallowed
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