Tax pay on bank closing balance
This query is : Resolved
23 January 2023
Sir,
It assessess all receipts and payments transactions through on bank online mode at the end of finical year all transactions after bank account closing balance rs:7 lacs
Question:
Assessess tax pay on bank account closing balance.
It assessess all receipts and payments transactions through on bank online mode at the end of finical year all transactions after bank account closing balance rs:7 lacs
Question:
Assessess tax pay on bank account closing balance.
23 January 2023
No. Other factors like sundry creditors, loans etc. may change the profit margin.
Income tax payment relies over net profit margin, if books maintained. Or over presumptive assessment based on turnover. All these factors need to be checked.
Income tax payment relies over net profit margin, if books maintained. Or over presumptive assessment based on turnover. All these factors need to be checked.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- GST ON DAMAGED GOODS
- Specified Profession
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
