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Disallowance restricting to 30% of expenditure u/s 40(a)(ia) is retrospective

June 30, 2020[2020] 117 405 (Article)
Disallowance under section 40(a)(ia) on account of non-deduction of TDS is one of the favorite cynosure of assessing officers during assessments. Prior to 01.04.2015, there was 100% disallowance of sum on which tax was not deducted. However, with an amendment in Section 40(a)(ia) brought in by Finance (No.2) Act, 2014, w.e.f. 01-04-2015, the disallowance was restricted to 30% of amount of expenditure.
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