liability
This query is : Resolved
09 April 2008
If in the previous year the assessee was subject to service tax liability(8lacs) & paid the taxes but in the current year his income is below the threshhold limit(below 10lacs), will he have to file the returns and deposit the taxes?
09 April 2008
he should file return. & no tax will be paid as income is less than threshold limit. for non-filing of return penalty can be levied.
09 April 2008
YES, THE SERV. TAX RETURN SHLOULD BE FILED BUT NOT DISCONTINUED. ONLY SERV. TAX IS NOT PAID.
R.V.RAO
R.V.RAO
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