10 September 2010
How to close l/y advance tax a/c in tally? What is the journal entry to be passed? For eg. Mr A has paid Rs.100000 as adv tax, Rs.25000 as self assessment and Rs.75000 TDS is deducted by customers. What is the JV to be passed?
10 September 2010
Generally After adjusting Advance tax, TDS, the self assesment tax will be decide and paid,so self assessment tax can be debit directly to Income tax payable a/c
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