Adjustment of Advance Tax of Last Year


This query is : Resolved 

Quick Summary
This discussion addresses whether it's possible to adjust advance tax from a previous year, specifically Dr. Balance and TCS receivable, against the current year's tax provision. The consensus is that such an adjustment between different financial years is not permitted.

31 March 2025 PLEASE EXPLAIN CAN I ADJUST LAST YEAR ADVANCE TAX DR.BALANCE AND TCS RECEIVABLE ON PUR. AGAINST CURRENT YEAR PROVISION OF TAX?

WHAT WILL BE THE ENTRY...?

31 March 2025 No. Not possible to adjust in different years.....

29 September 2025 Good luck..


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