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Advance tax

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(Querist)
11 January 2012 In the accounting advance tax how to taken
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
11 January 2012 Debit the advance tax amount and credit the bank or cash account.
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Padmanabham

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Padmanabham (Querist)
11 January 2012 it is current asset or expendicher
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CA Ashwani Agarwal

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CA Ashwani Agarwal (Expert)
11 January 2012 That depends on you.... It cannot be expenditure as it cannot be debited in P & L A/c.... So either debit the capital A/c or show it in Balance sheet...

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