answer by doubt
This query is : Resolved
08 January 2009
a partnership contain 4 partners as on 31/12/2008 fy 2007-08 income tax was calculated 17000 and paid in 1/9/2008 so how should i account the income tax payment and entry in fy 2008-09
please guide me
please guide me
24 September 2011
On 31.3.2008, provision for tax would have been created by passing the following entry:
P&L A/c Dr. 17,000/-
To Prov for Tax 17,000/-
On 1,9,2008 pass the following entry:
Prov for Tax Dr. 17,000/-
To Bank A/c 17,000/-
P&L A/c Dr. 17,000/-
To Prov for Tax 17,000/-
On 1,9,2008 pass the following entry:
Prov for Tax Dr. 17,000/-
To Bank A/c 17,000/-
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