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Journal entry for income tax

This query is : Resolved 
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(Querist)
29 August 2011 Dear Experts,
Income tax paid for Partnership Firm is to be transferred to Partner's capital A/C's (or) to be shown as expense it;s very urgent
Thanks in advance
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
29 August 2011 Both options available.

In the later case expenses will be disallowed so it makes no difference.

Generally it is transferred to capital a/c directly only.

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