Amendments in Budget 2014 relating to TDS compliance u/s 40(a(ia)
The disallowance under section 40(a)(ia) of the Act shall be restricted to 30% of the amount of expenditure claimed. Existing provisions: The existing provisions of section 40(a)(i) of the Act provide that certain payments such as interest, royalty and fee for technical services made to a residents shall not be allowed as deduction for computing…