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(Querist)
25 June 2011 Tax is Expenses or not if not then why do we show it dedit side of P/L A/C.
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Guest (Expert)
25 June 2011
Tax in not an Expense but it is an apportion of Profit.

The fact that, it is shown on Dr. side is just a matter of convenience,else a new A/c “Apportionment of Profit” needs to be created.

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