Hon’ble Supreme Court puts an end to Section 40a(ia) Controversy

Pravin Saraswat,  FCA, CS, DISA One of the classic controversies, lasting for more than a decade, is disallowance for non-deduction/payment of TDS on domestic payments u/s 40a(ia). This section has seen a number of amendments since its birth by the Finance Act, 2004 wef AY 2005-06, which were basically in the nature of softening the harsh provisions of the section and also widening the coverage of the TDS net by way of covering all heads of TDS deduction right from Section 192 to 194. However, a major controversy, which has now been finally, concluded by Hon’ble Apex Court, had been the TD...