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Excess provision

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 November 2012 Dear Experts
If In a company For F.Y. 2011-12 Provision for I tax is made for Rs 85849 and Rs 30000 paid as advance Tax and on Finalization of B/S Rs 47830 tax deposited. Then total tax paid 77830 and Provision is made for Rs 85849 then what will be treatment for Balance Excess provision of rs 8019.
Please help me.and mail at my id

Thanks and regards

Kanhaiya

vermakl_1981@yahoo.co.in
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CA Manish

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CA Manish (Expert)
01 November 2012 The excess prov has to be w/off.
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neeraj

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neeraj (Expert)
01 November 2012 Reverse the excess provision made that's it
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 November 2012 What will be entry
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@VaibhavJ

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@VaibhavJ (Expert)
01 November 2012 Hi

Prov for Tax dr..8019
...To Tax Exp A/c..8019

Rgds//Vaibhav
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