Jayanta Bandyopadhyay (310 Points)
17 February 2023When there is a short or excess provision of income tax as accounted for in audited accounts per Co Act vis a vis Income Tax Act, how do we account for the same after account closing by A COMPANY?
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 17 February 2023
Corporate tax is paid with adjustments from deferred tax provisions and account accordingly. You'd get better results of you ask this question in tax section.
sabyasachi mukherjee
(27579 Points)
Replied 18 February 2023
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 18 February 2023
Current taxes are like
Dr. Current taxes
Cr. Current taxes payables
Are taxes paid in arrears of on year like I've read? Thanks to anyone who demistify this.
CAclubindia
