Tax treatment of vat payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 September 2013
hi,
input vat =100000
output vat=120000
vat paid=20000
can we claim vat paid as expense in profit and loss a/c for the purpose of income tax.
input vat =100000
output vat=120000
vat paid=20000
can we claim vat paid as expense in profit and loss a/c for the purpose of income tax.
26 September 2013
VAT and other taxes payments are shown in P&L A/c to arrive at the net profit or PAT....mjk
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 September 2013
thanks sir
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