Hey,
I have one private limited company which is non Tax Audit. I have not filed my TDS returns for the AY 2015-16. I want to file it now. Will those expenditure be disallowed or it can be claimed in AY 2015-16?
Monika (STUDENT) (29 Points)
07 December 2015Hey,
I have one private limited company which is non Tax Audit. I have not filed my TDS returns for the AY 2015-16. I want to file it now. Will those expenditure be disallowed or it can be claimed in AY 2015-16?
jaya krishna
(Chartered Accountant)
(262 Points)
Replied 10 December 2015
If you are not deducting TDS or not paid wthin due date disallowed us 40(a)(ia) on non deduction or short deduction
1)30% of whole amount.
2) 30% of amount which TDS not deducted or short deducted (Proportional basis).
3) disallowance under section 40(a)(ia) is only for non deduction of tax at source and not short-deduction of tax.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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