23 April 2009
if a company has made a contract to an individual who's total amount exceed Rs.10,00,000 and tds deducted @2.06% instead of @2.266%, in such cast the whole amount is allowed as a expenses under the income tax or not.if not, what will the treatment for such query?
23 April 2009
Short deduction of TDS. Expense will be disallowed marginally. However you can deduct the rest at later stage and balance will be allowed in that year.
CAclubindia
