sir kya hume sole proprietor k case k income tax ko p&l m deka saktai h
ki direct provision bnana hoga
5 Replies
veerendar singh
(tax consultant)
(3306 Points)
Replied 17 May 2021
Its your choice how you like to draw p&l. but in itr3 you have to disallow it.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 May 2021
Provision should be made but in companies balance sheet partners income tax should not be shown
CA Raj Doshi
(Practising CA)
(8939 Points)
Replied 17 May 2021
It's better to put income tax directly under capital account on payment basis in case of a sole proprietor. This would avoid unnecessary complications of disallowance etc.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 17 May 2021
Usual practice is to take to make provision
veerendar singh
(tax consultant)
(3306 Points)
Replied 18 May 2021
Its your choice, how you like to present it.
people adopt different presentation styles. there is no single way of presenting it.
people adopt different presentation styles. there is no single way of presenting it.
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