Income tax and house tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

09 August 2012 I need to make some entries in tally of paying income tax and house tax...the problem is that i dont know that how to make entry in tally..
i request that someone please tell me that how to make entry of both and also tell that under which head income tax and house tax would be created..

thanking u..

CA Amit Jaiswal

CA Amit Jaiswal (Expert)
Follow

10 August 2012 First of all you have to create ledgers for Income Tax and House Tax. Create these under Capital A/c as these are personal expenses just like drawings.

You must have a ledger of Bank A/c from which the payment is to be made.

Now, you just have to make a payment entry by debiting the Tax A/c and Crediting the Bank A/c.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2012 Cant both entry be created under Duties & Taxes???

Upgrade to CAclubindia Pro. Subscribe Now!