Accounting treatment of advance tax appearing in books of ea
This query is : Resolved
ROHIT GARG
(Querist)
30 August 2012
M making a bal sheet for 2011-12 of a pvt co.
in its books/trail bal...
Advnce tax(2009-10) rs.98700
advance tax(2010-11) Rs90000
is still appearing.
however the assement is completed for those years.
What entry should be passed now to close this entry.???
Plz reply soon...
thanks in advance
in its books/trail bal...
Advnce tax(2009-10) rs.98700
advance tax(2010-11) Rs90000
is still appearing.
however the assement is completed for those years.
What entry should be passed now to close this entry.???
Plz reply soon...
thanks in advance
Guest
Guest
(Expert)
15 September 2012
Check the assessment order and square off the advance tax account against the tax liability as per order.
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