Adjustment of advance tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 June 2013
Dear friends
provision for income tax Rs. 300.00
as on dt. 31.3.12. After finalization of b/s the tax paid 250.00 diff. amt. 50.00. what entry will be pass in the book for diff amount in current year.
provision for income tax Rs. 300.00
as on dt. 31.3.12. After finalization of b/s the tax paid 250.00 diff. amt. 50.00. what entry will be pass in the book for diff amount in current year.
CMA Ramesh Krishnan
(Expert)
11 June 2013
Dr: Provision for Income tax Rs.300
Cr: Income tax paid Rs. 250
Cr: Profit & loss a/c Rs.50
Cr: Income tax paid Rs. 250
Cr: Profit & loss a/c Rs.50
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