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Income Tax A/c in B/sheet for Ltd Co

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(Querist)
30 October 2010 dear sir,

If Income Tax A/c of earlier years are shown in the B/sheet and assessment are complete for that years and if refund is received - then how accounting entries are to be passed in the books of a ltd. company ?
thx in advance
anckoora
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
30 October 2010 what is the provision of income tax and advance tax.

whatever adjust this for that year, and excess provision arises transfer to profit and loss a/c as " excess provision written back".
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 October 2010 Set off the accounts and pass the receipt Tax refund entry
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