Query
This query is : Open
14 August 2017
Sir
of provision for taxation made of Rs 408206.00
& Advance Tax Payable Rs 125000.00
or TDS Rs 145259
& Self Assessment Tax of Rs 110817.00
how will entered this entry.
Thanks
of provision for taxation made of Rs 408206.00
& Advance Tax Payable Rs 125000.00
or TDS Rs 145259
& Self Assessment Tax of Rs 110817.00
how will entered this entry.
Thanks
14 August 2017
advance income tax already paid
sir pls clear
sir pls clear
14 August 2017
Yes... I'll clear you query.
But, I want some clarifications right...!
1. How many Rs payable amount to ITD after 31/03/201...? Rs. 408,206 or 408,206-125000=283206...? or 408,206+125000=533,206?
2. Provision is after less TDS amount or Not less TDS amount...?
3. Self Assessment Tax is actual or Approximate...?
But, I want some clarifications right...!
1. How many Rs payable amount to ITD after 31/03/201...? Rs. 408,206 or 408,206-125000=283206...? or 408,206+125000=533,206?
2. Provision is after less TDS amount or Not less TDS amount...?
3. Self Assessment Tax is actual or Approximate...?
14 August 2017
provision actually made of Rs 408206
Actual TDS deducted by party of Rs 145259
Actual Advance Tax Deposited Rs 125000.
Actual Self Assessment Tax Paid of Rs 110817.00
Actual TDS deducted by party of Rs 145259
Actual Advance Tax Deposited Rs 125000.
Actual Self Assessment Tax Paid of Rs 110817.00
14 August 2017
Okay. i'll reply the adjustments. But, Your above said reply is not understood. Bcoz, Provisions is entered only payable amount. Your provision 408256 and advance tax 125000 (if its paid on or before 31st mar) then your provision is not matched your Tds amount and assessment amount.....
14 August 2017
Dr. Provision amount - 145259
Cr. TDS Received - 145259......... After the entry TDS Balance is 0.
Dr. Provision Amount - 110817
Cr. Tax paid Amount (Self assessment) - 110817... After the entry Tax paid amount is 0.
Dr. Provision Amount - 125000
Cr. Advance Tax amount - 125000. After the entry Advance Tax amount is 0.
After all entry ll be passed Provision amount's balance is Rs. 27130.....
Cr. TDS Received - 145259......... After the entry TDS Balance is 0.
Dr. Provision Amount - 110817
Cr. Tax paid Amount (Self assessment) - 110817... After the entry Tax paid amount is 0.
Dr. Provision Amount - 125000
Cr. Advance Tax amount - 125000. After the entry Advance Tax amount is 0.
After all entry ll be passed Provision amount's balance is Rs. 27130.....
14 August 2017
sir thanks please also tell me Rs 27130 in which ledger will be taken
14 August 2017
Above said values are correct then it ll be adjusted to Proprietor's current/capital account....
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