income tax and service tax on advance received
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 April 2016
i have received a advance from a party and related party not willing to continue contract and breach the contract now my question is that if service provider nothing provide service then on advance received whether i have to pay service tax and advance received is also included in computing income tax,
10 April 2016
1. No need to pay service tax.
2.To include in computing income tax u/s 56(2)(vii)(a).
2.To include in computing income tax u/s 56(2)(vii)(a).
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