Provison for income tax !!

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 November 2014 Hello CCI members

what is the treatment of Provision for Income tax?? and what is current year's tax expense and its accounting treatment.

Thanks

CA Parul Saxena

CA Parul Saxena (Expert)
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05 November 2014 Income tax Dr....................
To provision for Income tax..................

Provision for income tax Dr.............
To Advance Tax
To TDS
To Bank.......................

Current year tax means income tax+Deferred tax asset/liability