Accounting entry of income tax pay partner
This query is : Resolved
07 October 2021
Sir,
A partnership firm income tax pay some amount through to one of a partner personal bank account online mode pay.
Question:
Above it pay amount transaction how to passed accounting entry partnership firm Books and partner personal account books.
A partnership firm income tax pay some amount through to one of a partner personal bank account online mode pay.
Question:
Above it pay amount transaction how to passed accounting entry partnership firm Books and partner personal account books.
CA R SEETHARAMAN
(Expert)
08 October 2021
Firm accounts.
Partners capital account cr
Income tax account dr
Partners personal account.
Firm capital account dr
Bank account cr
Partners capital account cr
Income tax account dr
Partners personal account.
Firm capital account dr
Bank account cr
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