TDS
This query is : Resolved
18 February 2011
sir,
Trust is Running school, and make some many payments as advertisment, Rent, professional charges etc. But not deducted TDS.
As per IT Act if we not deduct TDS expenses will be disallowed.
What is the impact on trust?, if expenses disallowed means, expenses add back to income. In our case Income only is not taxable.
Expenses disallowed means it is not taxable. only add back to income..
kindly clarify.
Trust is Running school, and make some many payments as advertisment, Rent, professional charges etc. But not deducted TDS.
As per IT Act if we not deduct TDS expenses will be disallowed.
What is the impact on trust?, if expenses disallowed means, expenses add back to income. In our case Income only is not taxable.
Expenses disallowed means it is not taxable. only add back to income..
kindly clarify.
Guest
Guest
(Expert)
18 February 2011
Provision of disallowance of expenses for non-deduction of TDS is applicable only for business income and therefore, it will not applicable for trust.
19 February 2011
Thank you sir,for your quick and clear information.
Guest
Guest
(Expert)
20 February 2011
For thanks also use thank user icon.
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