TMI BlogBusiness expenditure u/s 37(1) - The issue can also be looked into from another angle. Admittedly, the...Business expenditure u/s 37(1) - The issue can also be looked into from another angle. Admittedly, the assessee is collecting TDS on behalf of the Government. The TDS collected does not belong to the assessee and has to be remitted to the Government account within the prescribed time. By not depositing the TDS in time, the assessee is not only depriving the Government from utilizing the money for public purpose but also creating problem for the payee in getting timely credit of TDS. On the other..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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