14 January 2010
sir why we not included any tax amount into the p & L a/c (Like, sale tax income tax service tax tds etc.) what is the reason sir plz help me about that. thanks virender (Asst. A/c)
14 January 2010
First of all i am not clear on ur query, but based on what i have understand let me clarify that any payment of tax like income tax and sales tax actual payment is debited to profit and loss acount and also the provision for tax is also charged to pand l a/c. There are two cases of charging to pand l account and debiting to profit and loss account.
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