19 October 2013
Can anyone suggest how to deal with balances (opening and closing) of advance tax and taxprovision:assessed liability in vash flow statement?
19 October 2013
PROVISION FOR TAX FOR THE CURRENT YEAR IS TO BE ADDED TO THE PROFIT IN CFS IN THE BEGINNING OF CFS UNDER INDIRECT METHOD AND ADVANCE TAX IS ADJUSTED AGAINST TAX PAYABLE FOR THE CURRENT YEAR......
Advance Tax will be deducted from "cash from Operating Activities" & "Provision for Tax" will be added for adjustment of Non cash items....
CAclubindia
