Advance

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 May 2014 SUPPOSE IN ENTIRE YEAR I HAVE ONLY ONE TRANSACTION I.E. ADVANCE RECEIVED FROM ONE CUSTOMER SAY RS. 50000.THEN MY QUESTION IS CAN I LIABLE TO PAY TAX ON SUCH AMOUNT

31 May 2014 no you will tax pay on your income.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 May 2014 CAN I ELIGIBLE FOR DEDUCTION AS AN EXPENDITURE IF PAID AS ADVANCE TO ANY PERSON (FOR ROUTINE ACTIVITY )

Profile Image

Guest

Profile Image

Guest (Expert)
31 May 2014 no you cant claim expense.. until actually expense is incurred....

this is just advance amount.. not the actual expenses

07 June 2014 both the ans are no.....................................


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details