Dear all,
Just have a scenario. I have purchased a Fixed Asset and a huge amount of Consulting charges is paid to a party for Installing and setting up the machine. AS-10 says it has to be capitalised.
My question is whether TDS is required to be deducted under 194J. If not deducted, TDS Provisions say expense shall be disallowed. In this case, there is no Expense at all then what can be disallowed? What about Interest and Penalty sections of IT Act on Non deduction of TDS? Do they come into the picture here?
Will be really grateful if you could help.
Regards
Mohit
CAclubindia
