Avail 50% discount on all online CA classes for Nov Exam(access till Nov 20th). Use coupon code NOV15

close x
Home > Experts > Income Tax > Provision for income tax

Please Wait ..

to your account


Remember Me | Forgot your password?


Sign-up now

Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Alternatively, you can log in using:

Provision for income tax (Income Tax)

Report Abuse
This query is : Resolved

( Author )
09 August 2013

plz help me in making understand how to create provision for income tax in the books of a company .

and the treatment of advance tax .. TDS recievable in it.

CMA Ramesh Krishnan

( Expert )
09 August 2013

Create ledger Income tax & provision for income

after computing the tax calculation

Dr: Income tax a/c
Cr: Provision for income tax account

create Advance tax & TDS receivable ledger under current assets

while paying advance tax only payment entry

Dr: Advance tax
Cr: Bank

TDS receivable when ever you are getting the deduction details from customers need to pass the entry

once final tax assessment order received

Dr: Provision for income tax
Cr: Advance tax
Cr: TDS receivable
Cr: Self assessment tax (if anything paid)


( Author )
12 August 2013

thanku so mch sir..



You need to be the querist or approved CAclub expert to take part in this query .

Click here to login ( Members Login ) now

Similar Resolved Queries :


Quick Links

back to the top