Tax

This topic has 1 reply, 2 voices, and was last updated 5 years ago by Ken Garrett.

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January 1, 2021 at 11:45 am #601263
sadafwaheed1
Participant
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S decided to record the purchase made of 2nd April 200X in tax year ending 31st March 200X . The authority will likely to classify this as tax evasion
Sir can you please explain how is it tax evasion
January 1, 2021 at 3:34 pm #601267
Ken Garrett
Keymaster
- Topics: 10
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The reclassification of the expenditure from y/e 31/3/200Y to 31/3/200X will lower the profits for y/e 31/3/200X and also lower the tax for that year. Next year’s profit and tax would be higher but there are advantages in deferring tax.
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