CARO Re[porting requirement
This query is : Resolved
07 September 2009
There is a cluase in CARO to report if there are any undisputed tax liability which is outstanding fore more than 6 months as at the end of the financial year.
If a company doesn't pay advance tax at all this means that there is a default for more than 6 months as first installment was due on 15 June and advance tax is income tax in nature. "Income tax" is specifically covered in this clause. It is also a default as we pay interest u/s 234C at the time of filing return.Please guide me should this default be mentioned in CARO
If a company doesn't pay advance tax at all this means that there is a default for more than 6 months as first installment was due on 15 June and advance tax is income tax in nature. "Income tax" is specifically covered in this clause. It is also a default as we pay interest u/s 234C at the time of filing return.Please guide me should this default be mentioned in CARO
07 September 2009
Yes, it will be considered as default and should be reported..
07 September 2009
Yes
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