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Provision for tax

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(Querist)
17 March 2017 How we will treat balance left in provision for tax? Is it carry forward to next year or not?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
17 March 2017 If tax paid is less than provision for tax to extent of tax liability created, Balance is liable to pay same can c/f,
If wrong provision or excess provision made same can be reversed or adjusted.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
19 March 2017 If Provision of tax is done excess then you have to set off the excess amount of tax at the time of doing tax entry.
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