How to pass journal entry of profession tax for company and Directors.
This query is : Resolved
17 June 2021
How to pass journal entry of profession tax for company and Directors.
17 June 2021
1)Professional tax on company is expense and may be debited to profit and loss account under Rates&Taxes
2)PT of directors is kind of TDS, you collect from director salary and same will be paid back to exchequer with in due date
Ex:
Dr Director salaryA/c
Cr Salary Payable A/c
Cr PT (Duties & Taxes)
Dr PT
Cr Bank
2)PT of directors is kind of TDS, you collect from director salary and same will be paid back to exchequer with in due date
Ex:
Dr Director salaryA/c
Cr Salary Payable A/c
Cr PT (Duties & Taxes)
Dr PT
Cr Bank
Message likes :
1 times
17 June 2021
Thank you so much for explanation and entries.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Import license renewal
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
