TDS Applicability on Accounting Provisions made towards Unfinished Work: ITAT restores Case back to CIT (A) [Read Order]

It was submitted that it is impossible to deduct TDS on estimated provisions as the exact amounts could not be ascertained at the time of making provisions.
By Varda Marakkar - On August 7, 2024 5:47 pm - 3 mins read
TDS Ruling - ITAT Decision - Accounting TDS - Tax Deducted at Source Ruling - ITAT Case TDS Provisions - taxscan

The Delhi bench “A” of the Income Tax Appellate Authority (ITAT) recently ruled on a case involving Tax Deducted at Source (TDS) applicability on accounting provisions made towards unfinished work. The assessee/appellant, Ajay Enterprises Private Limited, filed a return of income amounting to Rs. 92,06,590 for the Assessment Year 2017-18. The company followed the percentage…

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