Tax on assessment

This query is : Resolved 

15 August 2014 dear Sir

The commissioner of Audit (Vat) levied the tax for the year 2006-2007 of Rs.80,000/- and it is paid in Financial year 2013-2014, how the effects should be shown in financial statements for the year 2013-2014

Please give me all Possible answers


thank u........

15 August 2014 Write off as expenses as TAX DEMAND OF PREVIOUS YEAR.

15 August 2014 Write off as expenses as TAX DEMAND OF PREVIOUS YEAR.

16 August 2014 you can claim as expenses for sales tax demand

10 September 2014 yes. But it is a liability for related financial period, and if income tax officer not allowed to deduct as a expenditure ?


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