Tds v/s 40(a) (i)
This query is : Resolved
05 January 2012
As per Sec 40(a)(i) cartein payments are not deductible from business income when TDS is not deducted
with in said dua dates...!!!!!!!!!!
My doubt is Mr.A deducted from Mr.X (contractor) of amount Rs.1,000 as per 194C on amount Rs.1,00,000 .
But Mr.A is deposited only Rs.500 to the credit of C.Govt .
In this case can Mr.A claim expenditure Part amount or not???
Thanks in advance
with in said dua dates...!!!!!!!!!!
My doubt is Mr.A deducted from Mr.X (contractor) of amount Rs.1,000 as per 194C on amount Rs.1,00,000 .
But Mr.A is deposited only Rs.500 to the credit of C.Govt .
In this case can Mr.A claim expenditure Part amount or not???
Thanks in advance
05 January 2012
Yes he will claim expenditure for part amount. but he will liable for shortfall tds payment.
06 January 2012
Yes, he can claim part amount.
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