[aaykarbhavan] Prior to 1-4-2013, TDS disallowance was attracted in payer’s hand even when payee paid taxes thereon

Prior to 1-4-2013, TDS disallowance was attracted in payer's hand even when payee paid taxes thereon

February 20, 2015[2015] 53 taxmann.com 516 (Cochin - Trib.)

IT : Position prior to 1-4-2013 - Where assessee-partners borrowed amounts from their respective partnership firms, assessee would be required to deduct TDS on interest payment made even firm paid taxes

IT : Section 40(a)(ia) would cover not only amounts which were payable as on 31st March of a particular year but also which were payable at any time during year

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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