provision of income tax
This query is : Resolved
08 November 2010
provision of income tax 3300
actual tax paid ,.,,, 3211
tds during the year 20628.
no advance tax paid.....
wat will be the entry to adjust the provision
actual tax paid ,.,,, 3211
tds during the year 20628.
no advance tax paid.....
wat will be the entry to adjust the provision
08 November 2010
Written back the excess provision ( 3300-3211 ) to P/L account.
08 November 2010
Rohit Kumar
You would have passed an entry for creation of liability right....
Debit Income Tax 3300 Group - P&L
Credit income tax payable 3300 - Provision
Now the entry would be
Debit Income tax payable 3300 Provision
Credit Income tax 89 P&L
Credit Bank/Cash Rs3211 -Current Assets
You would have passed an entry for creation of liability right....
Debit Income Tax 3300 Group - P&L
Credit income tax payable 3300 - Provision
Now the entry would be
Debit Income tax payable 3300 Provision
Credit Income tax 89 P&L
Credit Bank/Cash Rs3211 -Current Assets
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
