Treatment of profession tax for company and directors

pranav (student) (56 Points)

23 June 2016  

Hi All,

Kindly share your views on the accounting treatment for "Profession Tax for Company and Directors"

I feel this expenditure should be debited to "Rates and Taxes" as there is no deduction from the directors salary for this amount.

 

Am i right in my view?

 

Thanks in advance

Pranav