Tag Archives: 40(a)(ia)

Chapter VI-A deductions admissible on profits enhanced by disallowance

By | November 3, 2016

F.No.279/Misc./140/2015/ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Circular No. 37/2016- Income Tax, Dated: November 2, 2016 Subject: Chapter VI-A deduction on enhanced profits – Reg. Chapter VI-A of the Income-tax Act, 1961 (“the Act”), provides for deductions in respect of certain incomes. In computing the… Read More »

Disallowance of expenses for non deduction of TDS : Section 40(a)

By | May 28, 2016

Section 40(a)(ia) of Income Tax Act 1961 Disallowance of expenses for non deduction of TDS BUY Analysis of Section 40(a)(ia) relating to Disallowance of expenses for non deduction of TDS 30%  disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) This 30% disallowance of expenses for non deduction of TDS  under Section 40(a)(ia) of… Read More »

Even Tax Deducted under wrong provision will attract dis allowance of 40(a)(ia)

By | August 6, 2015

Question When the Tax is to be deducted u/s section 194J but is deducted under section 194C,whether the disallowance u/s 40(a)(ia) will be done ? Yes, If Section 40(a)(ia) is understood in the manner as laid down by the Apex Court, it can be seen that the expression “tax deductible at source under Chapter XVII-B” occurring… Read More »

40(a)(ia) TDS default based on opinion of CA was bona fide mistake , No Penalty

By | August 5, 2015

Question: Where assessee-company made payment to a foreign company without deduction of tax at source on basis of certificate issued by Chartered Accountant, same was a bona fide mistake and hence, assessee was not liable to penalty for concealment of income ? Answer Yes,  When it was found that Chartered Accountant had given a certificate to… Read More »

40(a)(ia) Disallowance for TDS default if books rejected by AO

By | August 5, 2015

Question : whether disallowance u/s 40(a)(ia) for TDS default shall be attracted even if income is estimated by AO after rejecting books ? Answer yes .Disallowance for TDS default shall be attracted even if income is estimated by AO after rejecting books   The estimation of income upon rejection of the assessee’s accounts as not reliable… Read More »