Online payment of Taxes
This query is : Resolved
Shaik Shair Ali
(Querist)
17 August 2010
Dear Sir,
Troubling with 2 questions
1) Payment of Income-tax is mandatory in which cases, is it mandatory for Individual 44AB Cases as it is in case of Firms.
2) I am paying taxes of some of my clients through my accounts as they have no online accounts, is it correct or not.
Thanks in advance
Troubling with 2 questions
1) Payment of Income-tax is mandatory in which cases, is it mandatory for Individual 44AB Cases as it is in case of Firms.
2) I am paying taxes of some of my clients through my accounts as they have no online accounts, is it correct or not.
Thanks in advance
CA Sanat Pyne
(Expert)
17 August 2010
1. question no 1 is not clear
2.there is no harm on that.
just pass the entry.
income tax -----------dr
to bank
party ..............dr
to, income tax
bank ..............dr
to , party.
2.there is no harm on that.
just pass the entry.
income tax -----------dr
to bank
party ..............dr
to, income tax
bank ..............dr
to , party.
17 August 2010
1) Individual covered under tax audit has to e-pay tax compulsorily. Pl refer the preamble of CBDT Circular 5/2008 dated 14/7/2008.
2) It is permitted by CBDT vide para No.4 of the above cited circular.
2) It is permitted by CBDT vide para No.4 of the above cited circular.
Shaik Shair Ali
(Querist)
17 August 2010
in Q1 i mean is it compulsory to pay income tax through online in case of Individual 44AB Audit cases? as it is compulsory for them to file return through e-filing from this year onwards
Aditya Maheshwari
(Expert)
17 August 2010
Yes it is compulsory.
17 August 2010
See the preamble of the Circular referred by me.
CA Sanat Pyne
(Expert)
17 August 2010
yes agree with B.Chackrapani Warrierji . it is compulsory.
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