CA Day celebration 2024 Easy Office
LCI Learning

Adjustment of advance tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 December 2010 Dear Sir/Mam
In partnership firm, we provide a provision for tax, advance tax but after two year we received a demand of assessd tax how to entry made for such transaction ?
Profile Image

CA.RAJIV SHUKLA FCA

Profile Image

CA.RAJIV SHUKLA FCA (Expert)
22 December 2010 Dear Badal,

Provsion for tax & Advacne tax adjsuted with Partners Capital Account on part of the Tax Liability.

If new Demand arrived and paid by Cash & Bank need to be settled with partners Capital Account Only as Prior Period Adjsutment of the taxes.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links