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Electricity Bills not in the name of Company
05-13-2010, 10:25 PM,
Electricity Bills not in the name of Company
What are the consequences relating to Income Tax if Electricity Bills are not in the name of the Company. With reference plz
05-14-2010, 08:16 PM,
aap Income tax or sales tax claim nahi kar sakyn gay.
05-14-2010, 08:25 PM,
There is specific requirment in Sales Tax which is in written. Jahabh tak IT ka swal hay agr hm sabit kr skain k bill us premises ka hay jahan company k operations ho rahay hain but bill company k nam pay nai hay. So what? Plz give reference of section as ITO says that the expense should be for company's business. There is no written requirement that bill should b in the name of the company.
05-14-2010, 08:49 PM,
<b>7. Determination of tax liability.</b>

(2) A registered person shall not be entitled to deduct input tax from output tax unless,--

(i) in case of a claim for input tax in respect of a taxable supply made, he holds a tax invoice in his name and bearing his registration number in respect of such supply for which a return is furnished;

(ii) in case of goods imported into Pakistan, he holds bill of entry or goods declaration in his name and showing his sales tax registration number, duly cleared by the customs under section 79 or section 104 of the Customs Act, 1969 (IV of 1969);

(iii) in case of goods purchased in auction, he holds a treasury challan, in his name and bearing his registration number, showing payment of sales tax;
05-14-2010, 09:21 PM,
Dear Bro, i am agreed with you as for as Sales Tax is concerned. I want such type of specific reference from Income Tax like you have quoted from sales tax.
05-27-2010, 04:15 PM,
dear brother,
the same will apply for IT, u can claim all those invoices which are coming with ur company name with NTN / reg no.

If invoice issue on others name and NTN, then u can not claim it,

It is same , like my PTCL bill ITax, i cd not adjust in my return, because it is on my Father name, while it is in my personal use. yes father can adjust it.

hope u understand ..


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