Section 198 of the income tax act 1961
This query is : Open
08 December 2016
My assessee is a works contractor. He received certain advance payment after deduction of Tds. I termed the advance received as ''income received but not accrued'' and neither showed the amount as income nor claimed any expenditures in that particular year. The same was shown as income in next financial year.
Further, during scrutiny the Income tax officer added back the whole advance amount received during the year declaring it contravention of Section 198. Kindly guide me how and on what grounds relief can be plead for?
Thanks in advance.
Further, during scrutiny the Income tax officer added back the whole advance amount received during the year declaring it contravention of Section 198. Kindly guide me how and on what grounds relief can be plead for?
Thanks in advance.
08 December 2016
You have to file an appeal but correct answer can only be given after going through the Assessment order
16 December 2016
Thanks Mam
Pls provide your mail id so that i can send you the Assessment Order.
Pls provide your mail id so that i can send you the Assessment Order.
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