What all expenses can be accounted under Rates & Taxes?
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Items under rates & taxes?
Replies (4)
Dear Tom,
Rates and Taxes are the charges or fees which are generally payable to Government (local, state, central),
Thus, these expenses includes following,
- Municipal Taxes (Property / housing tax)
- Fees payable for filing e-tds return
etc.
I'm thankful for your reply,but just i'm asking...
If we are paying fee for inspection on our machinery done by a party (non-Govt) ,can we account it as rates & taxes?
dear Tom,
Is the inspection on machinery is carried out based on any of rules of Government for which authorised agent of government carries out such inspection and charges fees as per government rule then it can be debited to Rates and Taxes.
kindly inform the reason of inspection.
Can we use rates & taxes g/l for interest on TDS ?
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