Adjustment entries of Provision for taxation & TDS Rec
This query is : Resolved
22 July 2010
Sir
Please tell me
In the auditee company,balances of provision for taxation & Tds Recoverable for the P.Y. 06-07 are still appearing in the books.Should adjustment entry relating to above be passed this year?
After how many years TDS Recoverable A/C ,Provision for Taxation and advance tax A/c standing from a long priod should be adjusted?It means that for how many yrs should we wait for Income Tax Assessment?
Please tell me
In the auditee company,balances of provision for taxation & Tds Recoverable for the P.Y. 06-07 are still appearing in the books.Should adjustment entry relating to above be passed this year?
After how many years TDS Recoverable A/C ,Provision for Taxation and advance tax A/c standing from a long priod should be adjusted?It means that for how many yrs should we wait for Income Tax Assessment?
22 July 2010
currently assessment is going on for the a.y. 2008-09.
It is better to collect 143(1) intimation from the department and adjust the above ledger.
It is better to collect 143(1) intimation from the department and adjust the above ledger.
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