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PROVISION FOR TAXATION

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(Querist)
26 October 2007 For individual can we create Provision for tax ?
if no please mention the section which deals with provision.
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sannagovindappa.G

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sannagovindappa.G (Expert)
26 October 2007 IN WHICH TYPE ORGSNISATION
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
26 October 2007 if individual is having income under the head "income from business or profession"
then he can make provision for tax.

but the query is relative because it makes no difference to have a provision a/c, its not tax deductible ??
plz clarify your query



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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
03 March 2008 There is no section as such. However, for an individual it is not necessary to make a provision.

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