banner_ad

Accounting

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 April 2013 if I am paying 100000 for self assessment tax for financial year 2011.12 in assessment year 2012.13 whether this self assessment is treated as current asset in fy 2012.13
Profile Image

Rupesh

Profile Image

Rupesh (Expert)
26 April 2013 Advance Tax/Self Assessment Tax paid for Last Fin Year should be set off against Tax on Income, not as Current Asset.
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
25 May 2013 Only timely payment of advance tax is to be adjusted against the income of that assessment year and accordingly the Interest u/s 234B and C as may be applicable will be charged. Self assessment is also adjusted but late payment is attracted by Interest u/s 234A, B and C. In case you have filed the return and not paid self assessment tax at the time of filing of return then Interest u/s 220, Penalty u/s 140A is also chareable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details