Section 40(a)(i)(a)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 November 2013
If an Individual Collects Service tax from the clients and does not deposit the same with the Government till the due date of filing return, what are the sections which are applicable for the same ???
Any suggestion of how to compute his income??
Any suggestion of how to compute his income??
CA Ysil Karunai
(Expert)
09 November 2013
If Assume the Assessee is following Net basis of accounting, Section 28 will be applicable for treating the service tax collected as income.
Nikhil Kaushik
(Expert)
09 November 2013
the unpaid service tax is covered under 43B(a). You shall receive deduction in the year in which the actual payment is made to the government.
For the current year, it would simply be disallowed and added to your taxable income.
For the current year, it would simply be disallowed and added to your taxable income.
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