Tax pay on bank closing balance
This query is : Resolved
23 January 2023
Sir,
It assessess all receipts and payments transactions through on bank online mode at the end of finical year all transactions after bank account closing balance rs:7 lacs
Question:
Assessess tax pay on bank account closing balance.
It assessess all receipts and payments transactions through on bank online mode at the end of finical year all transactions after bank account closing balance rs:7 lacs
Question:
Assessess tax pay on bank account closing balance.
23 January 2023
No. Other factors like sundry creditors, loans etc. may change the profit margin.
Income tax payment relies over net profit margin, if books maintained. Or over presumptive assessment based on turnover. All these factors need to be checked.
Income tax payment relies over net profit margin, if books maintained. Or over presumptive assessment based on turnover. All these factors need to be checked.
Message likes :
1 times
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
