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account treatment entry

This query is : Resolved 
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(Querist)
07 July 2009 dear friends,

my firm is a partner ship firm I have paid income tax in cash rs 17000.00 for firm for fy 2008-09 the payment entry i passed is income tax debit to cash cr.

where should i adjust the income tax amount or journal entry if any

under what group should the income tax ledger be created

is it a part of balance sheet in capital ac or profit loss ac as exp.

Regards

Survesh
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UMA SHANKER SHARDA

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UMA SHANKER SHARDA (Expert)
11 July 2009 In case of partnership firm, tax shall be debited to partner's account in proportion to their profit sharing ratio.
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