If a partnership firm has not paid any advance tax then whether it can create a provision in P & L account for the income tax to be paid in next FY. If yes then the profit will get reduced to that extent so whether the income tax liability is to be computed on the profit before charging the provision or on profit remaining after charging the provision.
Also, which profit (before making provision or after making provision) is to be divided among the partner in their profit sharing ratio.
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