Provision for tax in fs

This query is : Resolved

Fawaz Malappuram (Querist)
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04 December 2017 Helo Experts
Pls help me to clarify the below given doubt
I will explain with example..
TDS-25000, Tax -20000
In the given case..how much will be the provision.. full tax liabilty 20000 or net tax liability 5000
Is Amount to be shown under BS is 5000?

What will be the answer if TDS is 25000 and tax is 30000

RAJA P M

RAJA P M (Expert)
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05 December 2017 1. Rs. 5000 refundable.. 2. Rs. 5000 Payable under short term provision...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 December 2017 1. Rs. 20,000/- to be shown as 'provision for taxation' under the head 'short term
provisions' in the balance sheet.

2. Rs. 25,000/- to be shown as TDS under the head 'other non current assets' in the balance sheet.

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