Non payment of service tax.
This query is : Resolved
Pavan Kumar Vaddella
(Querist)
05 October 2015
Dear Sir,
Is there any effect in income tax liability for the non payment of Service tax ?. If so, to what extent ?
Regards
Pavan Kumar V.
Is there any effect in income tax liability for the non payment of Service tax ?. If so, to what extent ?
Regards
Pavan Kumar V.
05 October 2015
Hi,
If such service tax is payable on the business income, then there wont be any effect on Income tax liability.
Secondly if is payable under Reverse or Partial reverse charge method, then such tax amount will be added back to Profit/loss calculated.
Extracts of 43B
As per Section 43B
Notwithstanding anything contained in any other provision of this Act*, a deduction Sudame otherwise allowable under this Act in respect of—
a)any sum payable by the assessee by way of tax, duty, cess or fee, (by whatever name called, under any law for the time being in force);
Cheers !!!
If such service tax is payable on the business income, then there wont be any effect on Income tax liability.
Secondly if is payable under Reverse or Partial reverse charge method, then such tax amount will be added back to Profit/loss calculated.
Extracts of 43B
As per Section 43B
Notwithstanding anything contained in any other provision of this Act*, a deduction Sudame otherwise allowable under this Act in respect of—
a)any sum payable by the assessee by way of tax, duty, cess or fee, (by whatever name called, under any law for the time being in force);
Cheers !!!
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Pavan Kumar Vaddella
(Querist)
06 October 2015
Dear Sir,
Thank You so Muchhhhhhhhh !!!!
Would you please elaborate Section 43B ?
Thank You so Muchhhhhhhhh !!!!
Would you please elaborate Section 43B ?
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