refund
This query is : Resolved
Manmohan ACA, CS
(Querist)
19 March 2009
Can a company (which previously inflated its income) claim a refund of taxes already paid on its inflated income for all the earlier years?
what shall happen in case of an individual
what shall happen in case of an individual
19 March 2009
if tax is earlier paid on income then it cant be taxed twice, and if wrongly taxed twice then you can calim refund.
Manmohan ACA, CS
(Querist)
19 March 2009
i mean to say that a company inreased its income by way of window dressing, to take a loan from bank.
two year after the mal practice has been discovered by income tax department.
can the company now make a claim to refund tax of the inflated income previously paid.
it is not wrongly taxes, but taxed previously on infalted income due to false disclosure of income.
i mean to say that a company inreased its income by way of window dressing, to take a loan from bank.
two year after the mal practice has been discovered by income tax department.
can the company now make a claim to refund tax of the inflated income previously paid.
it is not wrongly taxes, but taxed previously on infalted income due to false disclosure of income.
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