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pankaj tiwari (Querist)

17 September 2018 HI,
WHAT IS THE DIFFERENCE BETWEEN PROFESSIONAL TAX AND PROFESSIONAL TAX PAYABLE
AND WHAT IS THE JOURNAL ENTRY FOR THE SAME.

Lalit Pandey

Lalit Pandey (Expert)

17 September 2018 professional tax dr to employee a/c and Professional tax payable is liability to deduct where p tax need to deduct. actually the difference is p tax is paid it book as a expense where p tax payable is current liability.

pankaj tiwari

pankaj tiwari (Querist)

18 September 2018 YES SUPPOSE WE PASS ENTRY SALARY DR. 10000
TO SALARY PAYABLE 9000
TO PROFESSIONAL TAX PAYBALE 1000
IN THIS ENTRY WE BOOK EXPENSES AS SALARY AND SALARY PAYABLE AND PROFESSIONAL TAX PAYABLE BECAME ZERO AFTER BANK ENTRY
BUT NO EXPENSES OF PROFESSIONAL TAX SO HOW TO BOOK THE ENTRY FOR PROFESSIONAL TAX

Lalit Pandey

Lalit Pandey (Expert)

21 September 2018 You dont have to write payble word when you are passing the entry while passing in books, it will become payable when you pass entry in tha name of "P.Tax A/c" and does not deduct and paid then only it become unpaid "P.Tax Payable A/c" in shown in balance sheet, If you want to book in tally the "P.Tax A/c" is will be under indirect expense/the relevent head you made, and a new saparate account will make for "P.Tax Payable" for book as it becomes due.

pankaj tiwari

pankaj tiwari (Querist)

21 September 2018 please eleborate with example if you can

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