Treatment of income tax paid for the previous year in book of accounts of the next year
Arun Kumar Ghosh (Consultant) (51 Points)
16 May 2016Arun Kumar Ghosh (Consultant) (51 Points)
16 May 2016
Kanak
(CA Final)
(106 Points)
Replied 14 July 2016
First Liability will be created by Debiting the P&L Accounting and Crediting the Provision for Income Tax Account. Then at the time of payment, Provision for Income Tax Account will be debited and Bank Account Will be Credited.
santu sen
(Accounts officer)
(73 Points)
Replied 15 July 2016
Amandeep Singh
(Private Job)
(436 Points)
Replied 11 May 2018
Sir,
In case patnership the same thing we need to follow i means to say regarding provion of income tax in books debited to PNL account or capital account
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