Fund flow statement income tax treatment

student

please explain with concepts the treatment of the following

  31.3.2008 31.3.2009
provision for tax(cr.) 70,000 1,00,000
advance tax payment(Dr.) 80,000 1,05,000

additional information:

during the year, income tax for the year 2007-2008 was assessed at Rs.76,000. a cheque of Rs.4,000 was received along with assessment order towards refund of income tax paid in excess, by way of advance tax paid in earlier years.

 

thanks in advance/........

 
Reply   
 

Originally posted by : Aksh*ta

please explain with concepts the treatment of the following




 

31.3.2008

31.3.2009



provision for tax(cr.)

70,000

1,00,000



advance tax payment(Dr.)

80,000

1,05,000




additional information:

during the year, income tax for the year 2007-2008 was assessed at Rs.76,000. a cheque of Rs.4,000 was received along with assessment order towards refund of income tax paid in excess, by way of advance tax paid in earlier years.

 

thanks in advance/........

 
Reply   
 

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