Sir I have two questions
1 I paid all taxes before cancelation application I have no stock till Final return date What mentioned in final return in this case
2 I have stock before cancelation of firm Can I paid on time of final return
in first case what implications have to face
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For Final Return
Replies (2)
Quick Summary
1. If there is no stock as on cancellation date, then show nil figures and file Final return.
2. If there is stock, then mention the amount of credit availed on such stock and pay the same using credit balance if available or in cash
2. If there is stock, then mention the amount of credit availed on such stock and pay the same using credit balance if available or in cash
Yes in term of Section 29 read with rule 20, need to pay tax on closing stock of any on the day you file cancellation.
1. provide Nil stock in final return.
2. Yes you can pay tax on stock by declaring it at the time of furnishing your Final return
1. provide Nil stock in final return.
2. Yes you can pay tax on stock by declaring it at the time of furnishing your Final return
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