accounting tratment of Assessed Income Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
Pls help towards accounting treatment for assessed Income Tax with Journal entries
04 December 2010
PROVISION FOR IT...........DR
TAX ON ASSESSMENT(ASSESSED TAX-PROV FOR IT)...........DR
TO, ADV TAX/TDS RECEIVABLE
TO, RESERVE & SURPLUS(ASSESSED TAX-ADV TAX /TDS)
TAX ON ASSESSMENT(ASSESSED TAX-PROV FOR IT)...........DR
TO, ADV TAX/TDS RECEIVABLE
TO, RESERVE & SURPLUS(ASSESSED TAX-ADV TAX /TDS)
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