Dear Sir,
Please tell me if there is payment of interest on TDS, sales tax, or WCT or on any other statutory liabilities, whether such interest is the part of operating activities or Financing Activities?
2 Replies
CA Suri Kota
(Assistant Manager @ EY)
(955 Points)
Replied 18 February 2013
Hi,
As the TDS/ Stat liability obligations majorly due to business operations, it should be shown under operating activities.
Exceptions: Delayed interest payable on Dividend Tax payable as it is Financing activity.
I got only one exception in my mind...might be few more !!!!!!!!
Let someother person suggest more on this.!!!!!
CA Kedar Sakhardande
(Proprietor)
(942 Points)
Replied 19 February 2013
yes it has to be under operating activity
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