Query what is to disallowed when tds is not deducted when advance payment is made.
RAKESH
(Almost CA)
(2199 Points)
Replied 20 September 2009
whole of the advance payment to be disallowed
Gautam
(student)
(92 Points)
Replied 20 September 2009
| Originally posted by :Kushal | ||
| " | Query what is to disallowed when tds is not deducted when advance payment is made. | " |
How u will disallow advance payment as if u make advance payment on 30march .,. then on balance sheet date it will stand on your asset side. As advance payment. So how to disallow it.
Rajeev
(www.rkmco.com)
(985 Points)
Replied 21 September 2009
only expenses claimed u/s 30-38 will be disallowed if tax is not deducted , since yr not claiming the expense , the question to disallow doesnt arise , but audit report will be qualified since its a default , cos TDS is to be deducted at credit or payment whichever is earlier .
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