Advance tax and prov for tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2013 if in the question it has been given that there is refund due to the company does that imply that company must have also prepared a provision for tax( in respect for ddt ) ..if yes then why

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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22 May 2013 Not necessary. There is vast difference between Tax Paid, Tax Payable and provision for tax made. It is also possible that there is TDS for no entry has been passed by the company and the Income Tax department has adjusted the TDS against tax payable and that is why it is showing refundable to the company.