Accounting entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2016
What will be the J entry if In FY 14-15 no provision had been shown for income tax .however payment was made in FY 15-16.
which account to be debited?? and credited this year at the time of payment of income tax??
which account to be debited?? and credited this year at the time of payment of income tax??
Ankur Singhal
(Expert)
07 September 2016
Dear
In this case you need to debit the general reserves and credit the bank account.
In this case you need to debit the general reserves and credit the bank account.
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