Govt tax receipts & payments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2018
Dear Experts, i am a tax consultant , i have received many receipts in my current account for govt tax payments whether income tax, GST, MCA etc.,, payments . clients as a normal practice send amount to my current account , after i will made payment on behalf of clients from my current account , to various govt payments, now my query at the time of receipt under which account i will the amount received for payment, Kindly please clarify in Detailed.
07 November 2018
When you make the payment of taxes, fee, penalty, interest on delayed payment of taxes etc., the challan or receipt is issued in the name of the client. Such payments should be debited to the client's account and when you receive the reimbursements, the same is to be credited to the client's account.
07 November 2018
Also better to maintain a separate bank account for such amounts received from
clients so as to maintain ethics and transparency.
clients so as to maintain ethics and transparency.
07 November 2018
Yes, I fully agree with the suggestion of Mr. Warrier.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
