07-16-2009, 07:41 PM
I am a trader. On my supplies above Rs 25,000 3.5% wht is deducted, which us my final liability of tax. However for the payments not received till 30.06, no wht has been deducted. Would i include these sales in my sales account and would i have to file anything in this regard. Because if i pay and the customer also deducts then i will at a losing end.
I know that i pay tax on my receipts and not on my income.
I know that i pay tax on my receipts and not on my income.