[MBA Case Study]: Assignment question, impact of TDS & Cash Payment.
ABC Ltd.’s profit before tax as per P&L account was Rs. 240 crores. The following information was available regarding ABC Ltd on scrutiny:
GET INSTANT HELP FROM EXPERTS!
- Looking for any kind of help on your academic work (essay, assignment, project)?
- Want us to review, proofread or tidy up your work?
- Want a helping hand so that you can focus on the more important tasks?
Hire us as project guide/assistant. Contact us for more information
- During the year, it had paid royalty of Rs. 40 crores to a German company, but TDS was not deposited with the
- IT department till the time of filing income tax returns.
For a bill of Rs. 30000, ABC Ltd made cash payment of Rs. 30000 to the vendor on 29th January 2018.
Critically analyze whether the above expenditures will be allowed or disallowed as deductions, with reasons, discussing the applicable sections. What will be the impact of such allowance / disallowance on the computation of Profits and Gains from Business or Profession of ABC Ltd for the AY 2018 – 19?
StudyMumbai.com is an educational resource for students, parents, and teachers, with special focus on Mumbai. Our staff includes educators with several years of experience. Our mission is to simplify learning and to provide free education. Read more about us.
Leave a Reply
You must be logged in to post a comment.