27 December 2013
Hi All,
Tax has to be calculated on net income after chapter VIA deductions.
What is the amount of provision for tax has to be made when interest applicable for non filing of incometax returns and delay in payments of advance tax?
28 December 2013
Interest , referred in the query, is an ascertained liability, being mandatory, provision for income tax including interest has to be made in the accounts.
CAclubindia
