Income
A.R.JOSHI
(Querist) 25 September 2011
This query is : Resolved
A partnership firm is running a bar and restautant business.Bar liquor licence is in the name of a partner.Supplier issued TCS in the name of a partner. AS business is in the name of firm and TCS in the name of a partner, then how to account TCS by the firm in it income tax return during the asst year 2011-12.
Raj Kumar Makkad
(Expert) 25 September 2011
No accounting of TCS can be made in the books of firm as the bills are in the name of partner only.
Sailesh Kumar Shah
(Expert) 26 September 2011
Provide pan no. of firm to the supplier and say to him for revision of tcs return.