Second proviso to s. 40(a)(ia) inserted w.e.f. 1.4.2013
should be treated as retrospectively applicable from 1.4.2005 and no
disallowance for want of TDS can be made if payee has paid tax thereon.
Assessee must be given opportunity to file Form 26A
The undisputed fact is that the assessee has not deducted
tax at source on the payments made to Uday Kumar Shetty. The fact that the
payee has accounted for these payments in his books of account, financial
statements and the same have been offered for tax in his return of income for
the period relevant […]
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