Income Tax of 2012 -13 paid Against demand received whether deductible as expense in current year or not
for proprietorship firm and if not deductible how to settle
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Income Tax Deduction
Replies (3)
Quick Summary
This will settle only through payment of demand tax, there is no other option now
Income Tax payment & Also Demands is not a expenditure of the Proprietorship firm.
It will be accountable in proprietor's capital account...
It will be accountable in proprietor's capital account...
Income tax is paid on profit / income
It's not a business expenditure. it's goes to capital account.
It's not a business expenditure. it's goes to capital account.
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