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You are here: Home / Archives for Kodanda

Is TDS allowable expenditure ?

August 23, 2010 by taxworry

One of the assessees paid transport contract amount without deducting TDS.However he remitted TDS to central government account out of his own funds by debiting the transport expenses. On perusal of ledger account of transport expenses ,the above fact of inflation of expenses by TDS amount came to the notice. Whether the TDS liability included in the transport expenses is an allowable expenditure while computing the income under the head " Profits and gains of business".

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Filed Under: A of Your Question, TDS Tagged With: Business, expenditure, Goluguri, government account, Kodanda, ledger account, legal compliance, providion, Rama, transport expenses

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