F.Y 2019-2020 Advance Tax paid Rs. 70000
but no provison for income tax account leder is made now can't pass entry for provision on already assesment for F.Y2019-20, as adjustment entry to be passed after computaion date which is 10-12-2020 (F.Y. 2020-21) and Tax amount was Rs. 62000
If I pass entry on 10-12-2020 i.e
Income tax a/c Dr 62000
income tax refund a/c Dr 8000
To Advance Tax Cr 70000
Kindly check the attachement for acutal amount and entry.
HOW TO MAKE PROVISION FOR INCOME TAX LEDER UNDER WHICH HEAD IN TALLY AS I HAVE PAID ADVANCE TAX FOR F.Y. 2020-21 RS. 25000/- AND NO PROVISION MADE not sure for income tax amount