sale tax entry
This query is : Resolved
30 May 2010
Hi
My queary is that if Sale tax Authority realease any demand for sale tax paymet, Then how to account for this entry.Is this expenses is allowable expenses as per income tax ?
My queary is that if Sale tax Authority realease any demand for sale tax paymet, Then how to account for this entry.Is this expenses is allowable expenses as per income tax ?
31 May 2010
These expenses will be normal business expenses and will be allowable in Income Tax. However, if Sales Tax authority has laid any penalty or penal interest. That will not be allowable deduction in income tax.
Message likes :
1 times
31 May 2010
sales tax paid DR
Bank/cash Cr
rest is replied by rishab mathur.
Bank/cash Cr
rest is replied by rishab mathur.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- LIC maturity claim whether taxable
- Journal entry of busniess expenses
- GST Rate for Catering Services
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
