02 July 2008
hi, my query is this..a company got prof tax registration only in nov 07.. and hence deducted it only frm nov 07..also they hav paid the arrears from April 07 to Oct 07..to which head of account should it be charged? pla clarify.. thanks..
02 July 2008
It depends upon the amount. If the amount is much then u collect it from the employees and debit to their account. and if the amount is not much then debit it to General expenses account or some misc a/c. But dont bebit to professional tax account because income tax officers will say this is not ur expense.
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