Tax payment from overdraft facility

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Md Afzal Amanulla (Querist)
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17 March 2016 Suppose a company has overdrawn its bank balance. Can tax be paid from that overdrawn account ??

CA R SEETHARAMAN (Expert)
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17 March 2016 Yes tax can be paid from OD AC.

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Amol S Joglekar (Expert)
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17 March 2016 Tax may be paid from OD account, subject to, however, the limit as sanctioned by the bank.

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