Interest u/s 234 a
This query is : Resolved
17 September 2013
sir
my problem is when a partner having a share in partnership firm which is liable to tax audit and such partner is also having a proprietorship business, the in which time he should have to be filed his return? if he was filed within September 30th, then he liable to pay 234A interest or not?
my problem is when a partner having a share in partnership firm which is liable to tax audit and such partner is also having a proprietorship business, the in which time he should have to be filed his return? if he was filed within September 30th, then he liable to pay 234A interest or not?
17 September 2013
The due date for filing return shall be 30th September. No interest implication.
Message likes :
1 times
17 September 2013
For the partner's the due date available to file their personal return of income is the due date which is applicable for the partnership firm.
So in your case partnership firm's due date is 30-09. So upto 30-9 of the concern assessment year interest u/s 234A not applicable for such partner's individual return.
OM SAI SRI SAI JAI JAI SAI
So in your case partnership firm's due date is 30-09. So upto 30-9 of the concern assessment year interest u/s 234A not applicable for such partner's individual return.
OM SAI SRI SAI JAI JAI SAI
Message likes :
1 times
18 September 2013
thank you for that...
10 December 2013
hai
i had the doubt regarding one of my client has the income from other source on which TDS was deducted by another party. but such income was not actually received.
Due to this incident my client has to bare huge tax.
tell me the solution please.
Thanks in advance.
i had the doubt regarding one of my client has the income from other source on which TDS was deducted by another party. but such income was not actually received.
Due to this incident my client has to bare huge tax.
tell me the solution please.
Thanks in advance.
11 December 2013
Dear Srinivas,
If the payment against such income was not received, then you should be showing such income as a receivable in your books. To avoid unnecessary burden of tax liability, you can write off the said receivable. That way income booked would get knocked off against the debt written off and the amount to the extent tax deducted shall reflect as income.
If the payment against such income was not received, then you should be showing such income as a receivable in your books. To avoid unnecessary burden of tax liability, you can write off the said receivable. That way income booked would get knocked off against the debt written off and the amount to the extent tax deducted shall reflect as income.
12 December 2013
Sir,
Thank you for such suggestion, but i had the doubt how to write off the said receivable if i had the income in the form of commission then to what extent i had to write off.
Thank you for such suggestion, but i had the doubt how to write off the said receivable if i had the income in the form of commission then to what extent i had to write off.
12 December 2013
you can write off to the extent it was not received. it doesnt matter what sort of income it is.
14 December 2013
hai sir
sorry for disturbing you, my doubt is how to write off receivables, if the assessee is an individual, having the income from commission?
sorry for disturbing you, my doubt is how to write off receivables, if the assessee is an individual, having the income from commission?
14 December 2013
it doesnt matter. if you are maintaining the books of accounts, pass an entry crediting the customer, and debiting the receivable written off account. thereafter, transfer the balance in receivable written off account to profit and loss ac.
14 December 2013
then is it right to claims tds on such income?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Disallowance of Section 43B(h) to sez units
- GST Regis.
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- REGARDING ACCOUNTING CODE FOR SERVICE TAX PAYMENT
- Redevolpment of bldg in mumbai
- Refund of AY 22-23
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
