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Income tax provisions

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 April 2013 There is provision of F.B.T in Liability Side and Advances of F.B.T in assets Side from A/Y 2006-07 Onwards.
I want to remove this two items from Balance Sheet.
Kindly, tell me accounting entries for removing such taxes.
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
02 April 2013 Charge from P&L (AS-5) i.e. first cancel by debiting liability side and crediting asset side, and for balancing figure use P&L

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