Income Tax Paid is Drawings?

Abhishek Kumar Gupta (Article) (148 Points)

10 August 2024  
income tax is an expense as per AS 22 and income tax paid by private limited company is considered as expense in its Books of accounts but income tax paid by the sole proprietor is considered as his drawings. is the treatment of income tax paid by proprietor as drawings is as per AS - 22 ??