Section 145a of income tax act 1961(urgent)
This query is : Resolved
14 September 2011
Dear All
Please guide me in this matter
I am doing the audit of one Pvt ltd company engaged in providing information technology services my question is wether section 145A of Income Tax Act is applicable to this company or not becaues service tax is applicable to the company.
Thanks in Advance
Please guide me in this matter
I am doing the audit of one Pvt ltd company engaged in providing information technology services my question is wether section 145A of Income Tax Act is applicable to this company or not becaues service tax is applicable to the company.
Thanks in Advance
21 September 2011
Section 145A provides for valuation of goods and inventory.
Information Technology service provider does not have any purchases or inventory.
Accordingly Section 145A is not applicable.
Information Technology service provider does not have any purchases or inventory.
Accordingly Section 145A is not applicable.
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