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Accounting entry

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 September 2016 What will be the J entry if In FY 14-15 no provision had been shown for income tax .however payment was made in FY 15-16.
which account to be debited?? and credited this year at the time of payment of income tax??
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Ankur Singhal

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Ankur Singhal (Expert)
07 September 2016 Dear
In this case you need to debit the general reserves and credit the bank account.

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