IT Return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2010 The company has taken the input of service tax on the services taken by it during 2008-09 in 2009-10. What will be the income tax implication for it? Since .in 2008-09 expenses claimed including service tax.pls advise

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

03 January 2010 You will have to credit the expense account and debit service tax credit input account. So the same will be taxable in current year. The above entry will have to be passed in the books otherwise in the account the service tax payable account will not become zero.

So the same will be taxable

Querist : Anonymous

Querist : Anonymous (Querist)

04 January 2010 Pls tell that the such transaction will get cover under tax audit.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok