TDS compliance: failure to deduct or timely pay tax restricts deductibility and caps deduction for resident payments. Amendment links disallowance under section 40 to failure to pay deducted tax by the return-filing due date in subsection (1) of section 139, replaces the prior time reference under section 200, and permits deduction in the year tax is actually paid when tax is deducted later or paid after the return-filing due date. Sub-clause (ia) is amended to cap disallowance for resident payments at thirty per cent and extend applicability to all payments under the Deduction at Source sub-heading of Chapter XVII.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
TDS compliance: failure to deduct or timely pay tax restricts deductibility and caps deduction for resident payments.
Amendment links disallowance under section 40 to failure to pay deducted tax by the return-filing due date in subsection (1) of section 139, replaces the prior time reference under section 200, and permits deduction in the year tax is actually paid when tax is deducted later or paid after the return-filing due date. Sub-clause (ia) is amended to cap disallowance for resident payments at thirty per cent and extend applicability to all payments under the Deduction at Source sub-heading of Chapter XVII.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
