https://www.taxtmi.com/highlights?id=61805 TDS u/s 194A OR 194C - short deduction of TDS - compensation paid by the assessee for breach of contract u/s.40(a)(ia) - If at all there is shortfall in TDS deducted by the assessee, then the assessee can be treated as an assessee in default u/s.201(1) / 201(1A) and recover shortfall in TDS amount and consequent interest thereon, but sum paid by the assessee cannot be disallowed u/s.40(a)(ia) of the Act, by holding that the assessee has not deducted TDS on said payment. - AT en-us Fri, 04 Feb 2022 16:19:18 +0530 Fri, 04 Feb 2022 16:19:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61805 TDS u/s 194A OR 194C - short deduction of TDS - compensation paid by the assessee for breach of contract u/s.40(a)(ia) - If at all there is shortfall in TDS deducted by the assessee, then the assessee can be treated as an assessee in default u/s.201(1) / 201(1A) and recover shortfall in TDS amount and consequent interest thereon, but sum paid by the assessee cannot be disallowed u/s.40(a)(ia) of the Act, by holding that the assessee has not deducted TDS on said payment. - AT Highlights Income Tax Fri, 04 Feb 2022 16:19:18 +0530 https://www.taxtmi.com/highlights?id=61805