Tax entry at the time of making HPN etc

At the time of making Hire purchase agreement, termination transfer of ownership, we should invariably make the tax paid entries for that particular quarter in the B Register.

Because there may be chances that the owner might not have paid tax or otherwise. Tobe on the safe side, we have to make the tax paid entries.

The Transport Commissioner has issued circular instructions in this regard.

Please refer circular no. 34/2002.

There may be chances that the audit party may note it and write an objection if the tax details are not made. So for a transport vehicle when it comes to our office for making entries like HPN or HPTer or TO in a corner of the slip, tax entries have to be made.