There is an advance tax showing up debit balance of Rs.100000/-. This has been showing since 2 years.
There is current year Loss Rs.900000/-.
Can we adjust the advance tax showing debit balance against Reserve and Surplus?
1 Replies
BHAGYESH RAVANGE
(C.A Job)
(1528 Points)
Replied 20 September 2009
Advance tax can be adjust from the Provison made for the Income tax for the Respective year.
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