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Advance tax

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(Querist)
05 October 2012 I have debited advance tax paid for my company. While finalising the accounts whether i have to include the advance tax paid in profit ., if so how to pass on the entry in tally
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swasti

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swasti (Expert)
05 October 2012 Advance tax by its name is clear is tax paid in advance & is an asset. It can's be adjusted in profit.

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