A/c closing in Tally
This query is : Resolved
10 September 2010
How to close l/y advance tax a/c in tally? What is the journal entry to be passed? For eg. Mr A has paid Rs.100000 as adv tax, Rs.25000 as self assessment and Rs.75000 TDS is deducted by customers. What is the JV to be passed?
10 September 2010
Need to be Dr: Income tax payable a/c Cr: Advance tax a/c Cr:TDS receivable a/c
10 September 2010
Generally After adjusting Advance tax, TDS, the self assesment tax will be decide and paid,so self assessment tax can be debit directly to Income tax payable a/c
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Specified Profession
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
