banner_ad

acccounting entry

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 December 2009 Hi,
Any one can explain entry?
Advance tax 5000
TDS 3000
Provision tax 6000
(1) If actual tax is 30000, (2) If actual tax is 10000
then what entry should be done.
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
25 December 2009 1.
Dr. Income tax Rs.24000
Dr. Provision tax Rs.6000
Cr. TDS Rs.3000
Cr. Advanc Tax Rs. 5000
Cr. Bank Rs.22000

2.
Dr. Income tax Rs.4000
Dr. Provision tax Rs.6000
Cr. TDS Rs.3000
Cr. Advanc Tax Rs. 5000
Cr. Bank Rs.2000
Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Expert)
26 December 2009 agree
Profile Image

Sambhu

Profile Image

Sambhu (Expert)
26 December 2009 The above suggested entry is ok if assessement is completed and no dues are pending.
However if assessement is not completed actual tax is work out at the time of tax audit then.
1Dr. Provision for tax Rs.24000
cr. Provision for earlier year Rs.24000
Dr. Advance tax Rs. 22000
Cr. Bank Rs.22000
2Dr. Provision for tax Rs. 4000
cr. Provision for earlier year Rs.4000
Dr. Advance tax Rs. 2000
Cr. Bank Rs.2000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details