Tax Audit -Prior Period Items
This query is : Resolved
29 May 2010
During the year 2009-10,The Sales Tax Department has levied a sum of Rs 10,000 as Sales Tax Penalty for 2008-09 on account Short payment of Output Vat .
whether the expenditure of Rs 10,000 which is pertaining to 2008-09 can it be considered as prior period item.
whether the expenditure of Rs 10,000 which is pertaining to 2008-09 can it be considered as prior period item.
29 May 2010
no, since the order of levying penalty is passed in the current year.
Message likes :
1 times
29 May 2010
Penalty regarding to Govt Due will be allowed in the year in which is imposed.
Hence it is not prior period items
Hence it is not prior period items
Message likes :
1 times
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- 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?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
