CA Day celebration 2024 Easy Office
LCI Learning

Provision for tax

This query is : Resolved 

19 August 2009 is provision for tax required to be made for a proprietorship concern? thanx

19 August 2009 If the tax liability is more than Rs.10000 from financial year 2009-10 than advance tax is required to be paid otherwise interest will be attracted under section 234B i.e delay in payment of advance tax and Sec 234C i.e deferment in payment of advance tax.
The provision is calculated to know the exact tax liability and to get safeguard from interest liability.

20 August 2009 Provision for tax is not required.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query