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Income Tax Deduction

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Account Officer
653 Points Posted on 09 March 2020
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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On 09 March 2020 at 11:12 Report
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Indian Business Researcher
313 Points Posted on 09 March 2020
This will settle only through payment of demand tax, there is no other option now
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On 09 March 2020 at 11:19
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"Do the Right Thing...!!!"
128152 Points Posted on 09 March 2020
Income Tax payment & Also Demands is not a expenditure of the Proprietorship firm.
It will be accountable in proprietor's capital account...
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On 09 March 2020 at 11:41
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17264 Points Posted on 09 March 2020
Income tax is paid on profit / income
It's not a business expenditure. it's goes to capital account.
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On 09 March 2020 at 15:20


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