Section 145a of income tax act 1961(urgent)

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Deepak (Querist)
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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

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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.