Adv tax
This query is : Resolved
29 February 2012
if a proprietor pays his adv tax for his own file, what is the entry to be done
please let me know
please let me know
Guest
Guest
(Expert)
29 February 2012
In this case the advance tax will be disclosed as current asset. The entry will be-
Advance tax ( A Y) a/c Dr.
To bank a/c
Advance tax ( A Y) a/c Dr.
To bank a/c
01 March 2012
but CA of Proprietor has done the entry as under
Capital a/c........Dr
to adv tax
is it right ?
Capital a/c........Dr
to adv tax
is it right ?
17 July 2023
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