Is tax payble for bill generated on 30th march of year
This query is : Resolved
26 December 2014
Dear Sir/Madam,
Please resolve my querry for Tax payble for bill generated financial year or for amount receipt year on 15th aprilo of next month. or partly rececieve in march & april.
Tahnks
Warm Regards !
K M Lal
Please resolve my querry for Tax payble for bill generated financial year or for amount receipt year on 15th aprilo of next month. or partly rececieve in march & april.
Tahnks
Warm Regards !
K M Lal
26 December 2014
Both Income tax and also Service Tax, if any required are to be considered for bill raised on 30th March
Thanks!
Thanks!
26 December 2014
Service Tax Liability arise be on 30 March when bill is generated.
26 December 2014
As per Section 68 (1) of Finance Act, 1994 read with rule 6 of Service Tax Rules 1994, In case of Individual or partnership firm whose taxable service during the last year does not exceeds 50 lacs the option is available for such assessee to pay service tax at the receipt i.e. on cash basis.
However in other cases Service Tax required to paid on before 31st March, of the year
However in other cases Service Tax required to paid on before 31st March, of the year
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