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Treatment of taxation in accounts

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Querist : Anonymous (Querist)
26 November 2015 How is provision for taxation, deferred tax and advance tax are treated in accounts?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
26 November 2015 Provision of taxation will be under current liabilities and provision

Advance tax will be under current assets till the adjustment of tax

Deferred tax depends on the balance as liability or asset

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