Journal entry
This query is : Resolved
26 September 2014
When adv tax is paid in partnership firm in lst year than how the adv tax will be utilized in current year??(it will be charged agnst current yr provision or will be adjusted from partners capital account??)
26 September 2014
it will not be charged to partners capital account but will be adjusted agaisnt provision made under profit and loss a/c pf the firm.
26 September 2014
you are mention the year when you deposit the tax .
you can adj the tax against the related year tax liability.
you can adj the tax against the related year tax liability.
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