while making payment for our Forein supplier against import. wheather we have to deduct TDS while remitting payment towards his bills.
Answer / kiran patel
Yes we do need to deduct tds u/s 195 of income tax act 1961
| Is This Answer Correct ? | 6 Yes | 2 No |
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In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
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if i purchased a tally software CD, Am i liable to pay service tax on it or sales tax or both on it?