dear all
will some one guide us on provision for expenses is allowed or disallowed by income tax department
bhojaraj
bhojaraj.clsi @ gmail.com
9538659284
4 Replies
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 19 March 2019
yes it's allowed if you are following mercantile system . however TDS needs to be made on the applicable expense within time and paid to govt else whole expense disallowed for that year
Bhojaraj
(Asst Manager - Finance)
(52 Points)
Replied 19 March 2019
dear sir
if it is services oriented we will recover TDS if it is purchase provision what may be the outcome, yes we do follow mercantile system, thanks for the guidance
if it is services oriented we will recover TDS if it is purchase provision what may be the outcome, yes we do follow mercantile system, thanks for the guidance
Giridhar S Karandikar
(Team Lead)
(7548 Points)
Replied 19 March 2019
then also purchase expenses will be allowed
Bhojaraj
(Asst Manager - Finance)
(52 Points)
Replied 19 March 2019
sir thank you for your guidelines
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